Financing Homes in Lake Tahoe and Truckee since 1992.

Lake Tahoe Mortgage Rate Trends- July 24, 2015

Friday’s bond market has opened flat again even though we got favorable results from this morning’s only economic data. Stocks are showing minor losses with the Dow down 32 points and the Nasdaq down 8 points. The bond market is currently down 1/32 (2.27%), but due to strength late yesterday we should still see an improvement in this morning’s mortgage rates of approximately .125 of a discount point if comparing to Thursday’s morning pricing.

June’s New Home Sales data was released late this morning, revealing a 6.7% decline in sales of newly constructed homes. This was well off of forecasts that were calling for a small increase in sales. The decline indicates the new home portion of the housing sector was softer than many had thought, making the data good news for bonds and mortgage rates.

Next week is going to be much more active than this week was. There are more economic reports being posted and the data is considered to be of higher importance than we had this week. In addition to the economic news, there will also be a couple of Treasury auctions and another FOMC meeting for the markets to digest.

Monday does have something scheduled to start the week. June’s Durable Goods Orders report will be posted early Monday morning, giving us an important measurement of manufacturing sector strength. We will address this report and all of next week’s activities in Sunday evening’s weekly preview.