Financing Homes in Lake Tahoe and Truckee since 1992.

Lake Tahoe Mortgage Rate Trends- April 4, 2015

Monday’s bond market has opened in positive territory despite early strength in stocks. The major stock indexes are showing fairly sizable gains with the Dow up 97 points and the Nasdaq up 33 points. The bond market is currently up 3/32 (2.10%), but due to bond weakness Friday we could still see a slight increase in this morning’s mortgage rates.

February’s Factory Orders data was posted by the Commerce Department at 10:00 AM ET this morning. They announced that new orders at U.S. factories for durable and non-durable products rose 2.1% last month, matching forecasts. This indicates growth in the manufacturing sector, but since it did not come as a surprise we can consider the news neutral towards mortgage rates.

Tomorrow has nothing of importance scheduled for release. There are three remaining reports scheduled for release this week that are likely to affect mortgage rates. One of those reports is extremely important to the financial and mortgage markets, so we may see noticeable movement in rates more than one day. In addition to the economic reports, there are quite a few speaking engagements by current Fed members today through Wednesday, including Chairperson Yellen, that always draw attention as traders look for any surprises or hints towards future monetary policy moves.

Overall, Friday is the single most important day of the week due to the significance of the monthly Employment report. Tomorrow could be active also with a couple reports and Janet Yellen’s speech. Thursday is the best candidate for lightest day with exception to traders making adjustments before Friday key economic release. Despite the fact that we have only one really important economic report, I still recommend maintaining contact with your mortgage professional this week if still floating an interest rate.