This week is packed with data that may drive mortgage rates higher or lower, including the Fed meeting which wraps up on Wednesday. It’s highly unlikely the Fed will make any changes to the Fed Funds Rate. Traders will be waiting for clues on when tapering may begin (it’s estimated will be pushed out to March 2014). Remember, mortgage interest rates are based on bonds (mortgage backed securities – MBS) and change throughout the day, just like stocks do. It’s not unusual to have bonds react opposite of the stock market as investors will often trade the safety of bonds for the potential return found with stocks (and the reverse is true).
What May Impact Mortgage Interest Rates this Week: October 28, 2013
October 28, 2013 by 2 Comments
What May Impact Mortgage Interest Rates this Week: October 7, 2013
October 7, 2013 by 1 Comment
As the government shut down continues, Congress has the debt ceiling the contend with by October 17, 2013, or our country will lose the ability to borrow. It almost seems “subprime” to me that our country has to continue to increase the amount of funds we borrow because our country went out to dinner and two glasses of wine (as President Obama explained it in a speech last week). Mortgage rates continue to be at lower levels. Once the government is back to work and the debt ceiling issue is resolved, in my opinion, we may see mortgage rates pop up.
What May Impact Mortgage Rates this Week: September 30, 2013: Mortgage Rates Trending Lower
September 30, 2013 by 1 Comment
The debt ceiling is influencing the markets today with the potential threat of the government shutting down at midnight tonight. Did you know that Congress is exempt from furloughs and will still be paid if the government shuts down?
What may impact mortgage rates this week: August 26, 2013
August 27, 2013 by Leave a Comment
Mortgage rates are not just influenced by scheduled economic indicators. Sometimes uncertainty in the world, such as what’s going on in Syria, will cause a flight to safety with investors seeking bonds, like mortgage backed securities. This is causing mortgage rates, which are based on mortgage backed securities, to be improved this morning.
Here are a few of the economic indicators scheduled to be released this week:
What May Impact Mortgage Rates this Week: August 19, 2013
August 19, 2013 by Leave a Comment
I hope you are having a wonderful summer. Our Seattle summer has been just beautiful – I don’t even mind the few days of rain we’ve had sprinkled in. Anyhow, you’re not reading this post for a weather report, are you? Let’s get back to what may impact mortgage interest rates this week! Today and Tuesday, we don’t have any economic indicators scheduled to be released. Wednesday is the big day with the minutes from the last Fed meeting being released.
What May Impact Mortgage Rates this Week: August 12, 2013
August 12, 2013 by Leave a Comment
We don’t have any economic indicators scheduled to be released today…however, the rest of this week is loaded with data that could impact mortgage rates. If the reports reveal inflation heating up, mortgage rates may trend higher. Here’s a list of what’s scheduled for this week:
What May Impact Mortgage Rates this Week: August 5, 2013
August 5, 2013 by Leave a Comment
We have a very light calendar this week with only two scheduled economic indicators being released.
- Monday, August 5: ISM Services Index
- Thursday, August 8: Initial Jobless Claims
Don’t let this light calendar lull you into thinking it’s going to be a calm week for mortgage rates. With summer time in full swing and lighter volumes due to traders enjoying a summer vacation, we may see volatility with the direction of mortgage rates.
What may impact mortgage rates this week: July 29, 2013
July 29, 2013 by Leave a Comment
This week is packed full of economic data that may dramatically impact mortgage rates. Not only do we have the results of the Fed meeting on Wednesday, we wind up the week with the Jobs Report on Friday. I anticipate this will be another volatile week for mortgage interest rates.
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