Financing Homes in Lake Tahoe and Truckee since 1992.

Lake Tahoe Mortgage Rate Trends- December 19, 2014

Friday’s bond market has opened in positive territory as stocks take a breather from their massive two-day rally that pushed the Dow up almost 700 points. The major stock indexes are showing minor gains during early trading with the Dow up 38 points and the Nasdaq up 18 points. The bond market is currently up 4/32 (2.19%), but due to slight weakness in trading late yesterday, I don’t believe we will see an improvement in this morning’s mortgage rates.

There is nothing of importance scheduled for release today. If we see an intraday change in mortgage rates, it will likely be a result of a noticeable move in stocks. Stock strength generally leads to bond weakness and higher mortgage rates. If the major indexes fall further into negative ground, we may see mortgage rates improve slightly later today.

Next week has a large handful of economic reports scheduled for release that may influence mortgage rates. Most of them are set to be posted one particular day (Tuesday). There is data being released Monday also (November’s Existing Home Sales), but it is not known to be a market-moving piece of data.

It is worth noting that next week is a holiday-shortened week that could bring some additional volatility. The markets will officially be closed for Christmas and will close early the day before. But many traders will be home Friday also, leaving skeleton crews in the office. This means most trading will be done over two days and since it follows such an active week we had this week, I would not be surprised to see more volatility. Look for details on next week’s calendar and scheduled releases in Sunday evening’s weekly preview.