I’m still in sunny California for my nephew’s wedding and will be back home before our next weekly update.
This week is set to be very volatile for mortgage rates with the elections taking place tomorrow. Although we may not have the final results for days, the markets will react.
We also have the Fed (FOMC) wrapping up their two-day meeting on Thursday. It’s widely expected that the Fed will reduce the Fed funds rate by 25 basis points. While this does not directly impact mortgage rates, it does influence the direction of mortgage interest rates.
Here’s what’s on schedule for this week:
- Tuesday, Nov. 5: ISM Services, 10-year Auction and the Presidential Election
- Wednesday, Nov. 6: 30-year Auction
- Thursday, Nov. 7: FOMC Meeting & Press Conference
- Friday, Nov. 8: Consumer Sentiment
If you would like to review mortgage rates for your personal scenario, please contact me.
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