Financing Homes in Lake Tahoe and Truckee since 1992.

Lake Tahoe Mortgage Rate Trends- February 9, 2015

Monday’s bond market has opened in positive territory due to weekend financial news out of Greece and economic data from China. The stock markets are reacting to the same news with the Dow opening the week down 47 points and the Nasdaq down 5 points. The bond market is currently up 9/32 (1.92%), but due to weakness late Friday we probably will see little change in today’s mortgage rates or possibly even a slight increase if comparing to Friday’s morning pricing.

Friday’s Employment report fueled a sizable sell-off in bonds that continued into the close. Many lenders revised rates higher as the day progressed to reflect the losses that came after morning pricing was posted. While this morning’s decent open in bonds is good news for mortgage shoppers, it simply offsets part of that afternoon upward revision and puts us back close to Friday morning’s mortgage rates.

Today has nothing of importance scheduled for release, leaving bonds to be driven by the showdown in Greece over their bailout terms and weaker than expected economic data out of China that raises concerns about the global economy. Tomorrow and Wednesday morning also have nothing set that is expected to influence mortgage rates. The rest of the week only has two economic reports (one is highly important) and two Treasury auctions that are likely to affect mortgage rates.

Overall, I believe we will see the most movement in rates the latter part of the week. I see Thursday as the best candidate for the most important day and tomorrow being the least active, assuming stocks remain calm most of the week. However, despite it being a relatively light week in terms of economic releases, I still recommend maintaining contact with your mortgage professional if still floating an interest rate as a lack of data here doesn’t mean other factors may not cause volatility in the markets.