Mortgage rates are slightly improved this morning as the stock market is taking a bit of a hit. As I write this (8:45 am) the DOW is down about 200 points. It’s not unusual to see mortgage rates improve when the stock markets are selling off as investors will seek the safety of bonds. Mortgage rates are based on bonds (mortgage backed securities) and will often react opposite to the stock market.
SEA – HAWKS!!! SEA – HAWKS!!! Yes, I’m still very excited and thrilled over our team’s incredible Super Bowl win. Although trouncing the Denver Bronco’s in the big game won’t impact mortgage interest rates, it certainly influences the mood here in Seattle and for all Seattle Seahawk fans. We did it!!
This week’s economic calendar is very light. Markets, as well as our office, were closed yesterday to observe Martin Luther King Day.
This week we’ ll be watching for the minutes from the last FOMC meeting and the Jobs Report as they may impact the direction of mortgage interest rates. It’s anticipated that employers added 197k jobs in December. Here are the economic indicators scheduled to be released this week:
Happy Holidays! With this being a short week due to Christmas, we may see a bit more volatility with mortgage rates with many traders taking time off for the holidays. Markets will be closing early on Tuesday for Christmas Eve and will be closed all day Wednesday. Here are some of the economic indicators scheduled to be released this week:
This week is packed with economic data that may impact mortgage the direction of mortgage interest rates including the Jobs Report on Friday. Here are some of the economic indicators scheduled to be released:
Last week mortgage interest rates improved thanks to Janet Yellen indicating at her confirmation hearing that as our next Fed head, she will continue on with QE and support the Fed’s actions of buying mortgage backed securities to keep mortgage interest rates artificially low. This was sweet news to the markets and we’re still seeing lower mortgage rates this morning.