Financing Homes in Lake Tahoe and Truckee since 1992.

Lake Tahoe Mortgage Rate Trends- April 8, 2016

Friday’s bond market has opened in negative territory with stocks rebounding from yesterday’s losses. The Dow is currently up 123 points while the Nasdaq has gained 28 points. The bond market is currently down 12/32 (1.72%), but another afternoon move in bonds yesterday should offset this morning’s losses.

As stocks slipped further into negative ground yesterday, bonds benefited. Many lenders improved rates during afternoon trading as a result. Unfortunately, this morning’s losses erase that improvement, keeping today’s mortgage rates at Thursday’s morning levels.

There is nothing of relevance scheduled for release today that may influence bonds and mortgage rates. If there is yet another afternoon rally or selling, it will likely be fueled movement in stocks. If the major stock indexes extend their current gains, we could see more pressure in bonds that leads to an upward revision to rates later today. On the other hand, if stocks give up this morning’s gains, we could see an improvement to mortgage pricing by the end of day.

Next week is pretty active with a handful of economic reports that are likely to affect mortgage rates in addition to two Treasury auctions. None of them are scheduled for Monday. Look for details on next week’s calendar in Sunday evening’s weekly preview.