Thursday’s bond market has opened in positive territory. The stock markets are flat with both the Dow and Nasdaq up a couple points. The bond market is currently up which should improve this morning’s mortgage rates.
Next week brings us the release of some key economic data including the almighty Employment report that could easily influence the Fed’s tapering decision at their next meeting later in the month.
The financial and mortgage markets will be closed Monday in observance of the Labor Day holiday and will reopen Tuesday morning for regular trading.
Have a terrific Labor Day weekend and God Bless the United States of Amercia! Be well friends!!!
Lock if my closing was taking place within 7 days
Lock if my closing was taking place between 8 and 20 days
Float if my closing was taking place between 21 and 60 days
Float if my closing was taking place over 60 days from now
This is only my opinion of what I would do if I were financing a home.
Have a super day!!!
This week brings us the release of only three pieces of monthly economic data, none of which is considered to be highly important for rates and will not be released until Wednesday so do not look at the stock market to drive bond trading and mortgage rates until we get to mid-week. Have an easy Monday friends!
Wednesday’s bond market has opened in positive territory following weaker than expected economic data and calming words by Fed Chairman Bernanke. The stock markets are showing early strength also with the Dow up 34 points and the Nasdaq up 12 points. The bond market is currently up 18/32, which should improve this morning’s mortgage rates by approximately .375 of a discount from yesterday’s morning pricing. A portion of that improvement is a result of bond strength late yesterday, but most of it is due to a favorable response to Chairman Bernanke’s prepared statement that was released before his appearance today.