Lake Tahoe Home Loans, Lake Tahoe Home Loan Rates, Lake Tahoe Mortgage Loans, Lake Tahoe Mortgage Loan Rates, Lake Tahoe Mortgage Rates:
Friday’s bond market has opened fairly flat with nothing of significance scheduled for release today. The stock markets are also relatively calm during early trading with the Dow down 2 points and the Nasdaq up 4 points. The bond market is currently down 2/32, which should keep this morning’s mortgage rates very close to yesterday’s levels.
There is nothing of importance or relevance scheduled for release today, so expect any significant move in stocks to be the cause of a bond swing and change in mortgage rates. If the major stock indexes remain near current levels, I suspect bond prices and mortgage rates will follow suit. If stocks rise throughout the day, we can expect pressure to build in bonds and a possible small upward revision in rates to follow. On the other hand, is the major stock indexes move well into negative territory, we could see an improvement in mortgage pricing later today.
Next week brings us a handful of economic releases that may influence bond trading and mortgage rates in addition to a couple of potentially relevant Treasury auctions. None the reports are considered to be key data, but several carry enough importance to affect mortgage rates if their results show any surprises. None of the week’s events are scheduled for Monday, although there is data scheduled to be posted every other day.
In addition to the week’s economic and auction calendar, we will likely start hearing much more about the upcoming budget showdown between Congress and the White House that could shut down government operations October 1st. Since the Fed tapering question is behind us (at least until the next FOMC meetings at the end of October and mid-December), the markets and analysts will now be focused on the Federal budget and debt-ceiling issues. I expect that to be big news this weekend, especially on Sunday’s political television. That will likely help drive Monday’s trading with nothing else of significance scheduled to be posted.