Financing Homes in Lake Tahoe and Truckee since 1992.

Lake Tahoe Mortgage Rates and Lake Tahoe Home Loan Rates-Morning Update-August 9, 2013

Lake Tahoe Mortgage Rates and Lake Tahoe Home Loan Rates:

Friday’s bond market has opened down slightly with nothing to directly drive trading today. The major stock indexes are showing early minor losses that has the Dow down 42 points and the Nasdaq down 1 point. The bond market is currently down 3/32, which should push this morning’s mortgage rates higher by approximately .125 of a discount point.

Yesterday’s 30-year Bond auction did not go as well as Wednesday’s 10-year Note sale did. Several indicators we use to gauge investor demand showed average interest at best with some indicating lackluster results. That prevented the bond market from improving during afternoon trading, but it also didn’t cause pressure or selling either. The net impact on mortgage rates was minimal.

There is nothing scheduled for release today that is likely to influence bond trading or mortgage pricing. Therefore, it is relatively safe to assume that we will see a calm day for mortgage rates, although Friday afternoons have known to be a bit volatile. However, that has usually come in much more active weeks as investors unwind positions following key economic releases. In other words, there is not much to be worried about this afternoon, but it is always prudent to peek at the markets once or twice if still floating an interest rate just to be sure something unexpected hasn’t happened.

Next week is extremely active in terms of the number of economic reports scheduled for release and the importance of some of them. They include a key reading of consumer spending and two important inflation readings in addition to other data. None of the reports are scheduled for Monday morning, so we can expect to see weekend news drive trading and investor positioning ahead of the week’s events.