Financing Homes in Lake Tahoe and Truckee since 1992.

Lake Tahoe Mortgage Rate Trends- March 20, 2015

Friday’s bond market has opened in positive territory despite stock strength and no relevant economic data. The major stock indexes are posting sizable gains during early trading, pushing the Dow higher by 139 points and the Nasdaq up 36 points. The bond market is up 10/32 (1.93%), but due to weakness in trading late yesterday we likely will not see much of a change in this morning’s mortgage rates if comparing to Thursday’s early pricing.

There is nothing of importance scheduled for today. Bonds are moving with stocks instead of against, but I am hesitant to say that stocks moving higher throughout the day means that bonds will follow suit. It could go either way. If stocks do extend this morning’s gains, bonds may do so also or could retreat. I would not be surprised to see some profit-taking in the bond market as the week comes to a close, so watch for a negative move this afternoon if still floating an interest rate.

Next week has a handful of economic reports set to be posted. Some are considered important but none should be considered key pieces that potentially can be market movers. Most of the data is considered to be moderately important with two standing out as more likely to influence the markets and mortgage rates than the others. In addition to the economic reports, there are also a couple of Treasury auctions that may have an impact on bonds and mortgage rates.

Monday does have a piece of relevant data set for release with February’s Existing Home Sales report coming late morning. This is where the National Association of Realtors will release home resale figures from last month. Look for details on it and the rest of the week’s calendar in Sunday evening’s weekly preview.