Financing Homes in Lake Tahoe and Truckee since 1992.

Lake Tahoe Mortgage Rate Trends- November 10, 2015

Thursday’s bond market has opened in positive territory as reaction to Friday’s employment news wanes. The stock markets are showing losses of 50 points in the Dow and 35 in the Nasdaq. The bond market is currently up 4/32 (2.33%), which should push this morning’s mortgage rates slightly higher than Friday’s early levels.

Today has nothing of relevance scheduled for release in terms of economic data, but we do have the first of this week’s two Treasury auctions that may affect mortgage rates. 10-year Treasury Notes will be sold with results posted at 1:00 PM ET. If the sale was met with a strong demand from investors, we could see afternoon strength in bonds that leads to a small improvement in mortgage rates. On the other hand, lackluster interest may lead to pressure in the bond market and an upward revision to rates later today.

The bond market will be closed tomorrow in observance of the Veteran’s Day holiday. There is no early close scheduled today. Banks will be closed also, but the stock markets will be open. I suspect many lenders will be open for business, using today’s rate sheets or won’t accept new locks. Because the bond market is closed and there is no data to address, there will not be an update to this report tomorrow.

Thursday has a couple of events scheduled that may influence the bond market and mortgage pricing. The first is last week’s unemployment figures that are expected to show 266,000 new claims for benefits were filed. The higher the number of claims, the better the news it is for mortgage rates because rising claims indicates a softening employment sector.

Also Thursday is the 30-year Bond auction that may influence afternoon trading and mortgage rates. Results will be posted at 1:00 PM ET Thursday.