Financing Homes in Lake Tahoe and Truckee since 1992.

Lake Tahoe Mortgage Rate Trends- April 10, 2015

Friday’s bond market has opened in positive territory, erasing yesterday’s late selling. The stock markets are also in positive ground with the Dow up 34 points and the Nasdaq up 3 points. The bond market is currently up 10/32 (1.92%), which should offset the increase in rates from yesterday afternoon.

We saw some weakness in bonds late yesterday following the 30-year Bond auction. Results were posted at 1:00 PM ET, showing a lackluster investor interest in the securities. The weak auction pressured the broader bond market and led to many lenders revising their rates upward during afternoon trading. Whether or not you see an improvement in this morning’s pricing depends if your lender revised rates intraday yesterday. The net result should be rates that are very close to Thursday’s morning levels.

Today has nothing scheduled that is likely to have an impact on bond trading or mortgage rates. If the major stock indexes remain near current levels, I suspect bonds and mortgage rates will follow suit. With bonds and stocks moving in the same direction lately, seeing stocks extend their morning gains may not be a bad thing. Regardless, I am expecting to see a fairly quiet ending to the week.

Next week brings a large handful of relevant economic reports that are likely to affect mortgage rates. There are multiple releases set for several days, so it likely will be an active week for the mortgage market. Monday is the only day with nothing scheduled to be posted, so look for weekend news or stock movement to be the biggest influence on Monday’s bond trading and mortgage pricing. We will address the week’s activities in detail in Sunday evening’s weekly preview.