Wednesday’s bond market has opened positive following favorable manufacturing news. The stock markets are showing minor losses. The Dow is currently down 16 points while the Nasdaq has lost points. The bond market is currently up which should improve this morning’s mortgage rates. Have a fantastic day!!!
March’s New Home Sales figures were posted today at 10:00 AM ET.
They reflected an increase of 1.5% in sales of newly constructed homes. This was
slightly stronger than what was expected, but not enough of a diffrence to
affect the markets or mortgage rates. It does indicate slight strength in the
new home portion of the housing sector. Therefore we can consider the data neutral
towards mortgage rates.
Today’s only economic data will be March’s New Home Sales at 10:00 AM ET. It will be similar to yesterday’s report , but it will indicate and track a much smaller portion of all home sales. It will also give us an idea of the housing sector strength and future mortgage credit demand, however. Unless it varies I think the data will not cause much movement in mortgage rates. Enjoy your day friends!
Monday’s bond market has opened positive following stock weakness and softer than expected housing news. The major stock indexes are reflecting early losses with the Dow down 67 points and the Nasdaq down 3 points. The bond market is currently up, which should improve mortgage rates by .125 – .250 of a discount point.
Very big week for real-estate numbers……my thoughts about this week
There will be some economic data for the markets to digest this week in addition there will also be two potentially Treasury auctions. The data starts late this morning with the release of March’s Existing Homes Sales numbers from the National Association of Realtors at 10:00 AM ET. This will give us an idea of the housing sector strength and mortgage credit demand. I believe this is important to the markets, and it can influence mortgage rates. Experts are expecting to see a small increase in sales between February and March. The larger the increase, the worse for mortgage rates.
Have an easy Monday
As we come to the end of our Friday here are my researched thoughts for Mortgage rates.
Next week does not look busy in terms of the number of events that may influence mortgage rates. However, some reports that are on the calendar, may have noticeable impact on the broader financial and mortgage markets. One of the reports is considered to be significant for an economic increase, meaning it can easily be a market changer. Have a tremendous weekend!