Financing Homes in Lake Tahoe and Truckee since 1992.

Lake Tahoe Mortgage Rate Trends- April 21, 2015

Tuesday’s bond market has opened in negative territory with stocks mixed and not much to drive bond trading. The Dow is currently down 20 points while the Nasdaq is up 23 points. The bond market is currently down 7/32 (1.91%), which should push this morning’s mortgage rates higher by approximately .125 of a discount point.

As was the case yesterday, there is nothing of importance set for release today that is expected to affect mortgage rates. That leaves stocks as the biggest influence on bonds. If the major stock indexes remain near current levels, bonds and mortgage rates will likely do the same.

This week’s first piece of relevant economic data is March’s Existing Homes Sales report from the National Association of Realtors at 10:00 AM ET tomorrow. This report gives us an indication of housing sector strength and mortgage credit demand. It is considered to be moderately important to the markets, but can influence mortgage pricing if it shows a sizable variance from forecasts. Ideally, the bond market would like to see a drop in home resales because a soft housing sector makes broader economic growth more difficult. Analysts are expecting to see an increase in sales between February and March. The larger the increase, the worse the news it is for bonds and mortgage rates.