Financing Homes in Lake Tahoe and Truckee since 1992.

Lake Tahoe Mortgage Rate Trends- November 9, 2015

Monday’s bond market has opened in negative territory as Friday’s selling extends into this morning’s session. This is despite a weak open in stocks that has the Dow down 146 points and the Nasdaq down 28 points. The bond market is currently down 12/32 (2.36%), which should push this morning’s mortgage rates slightly higher than Friday’s early levels.

There is nothing of importance scheduled for today, so we can expect bonds to remain in negative ground. The rest of this holiday-shortened week brings us the release of only three monthly or quarterly economic reports for the markets to digest along with two relevant Treasury auctions. One of those three reports is considered to be a key piece of data though.

All of this week’s relevant events take place the last couple days. We have two Treasury auctions, Retail Sales data, Producer Price Index (PPI) and the preliminary version of the University of Michigan’s Index of Consumer Sentiment.

Overall, Friday is likely to be the most active day for mortgage rates with all of this week’s data scheduled, including the highly important Retail Sales report. The calmest will probably be Wednesday since I see many lenders being open for business despite the bond market closure for Veteran’s Day. There is a good possibility of seeing a fairly calm day tomorrow. Despite the light economic calendar, there is still a decent chance of seeing a noticeable move in rates again this week. I suspect we may see yields (and mortgage rates) start to drift lower soon. Still, it would prudent to maintain contact with your mortgage professional if still floating an interest rate.