Financing Homes in Lake Tahoe and Truckee since 1992.

Lake Tahoe Mortgage Rate Trends- December 9, 2015

Wednesday’s bond market has opened in negative territory with no relevant data this morning and stocks showing sizable gains. Stocks are in rally mode with the Dow up 178 points and the Nasdaq up 6 points. The bond market is currently down 14/32 (2.26%), which should push this morning’s mortgage rates higher by approximately .250 – .375 of a discount point.

We saw some weakness in bonds late yesterday that caused a few lenders to raise rates intraday. If your lender did make an upward move yesterday, you should see less of an increase in this morning’s pricing.

There is no relevant economic data scheduled for release this morning, but we do have the 10-year Note auction later today. If there was a strong level of investor demand, we could see bond prices improve this afternoon and mortgage rates move lower. But if investor interest was weak, bonds may extend their morning losses. Results of the sale will be posted at 1:00 PM ET, so any reaction will come during early afternoon trading.

Last week’s unemployment figures is tomorrow’s only data, coming at 8:30 AM ET. They are expected to show that 269,000 new claims for unemployment benefits were filed last week. This would be the same as the previous week. The larger the number of new claims, the better the news it is for bonds and mortgage rates because rising claims hint at a softening employment sector.