Daily Rate Lock Advisory | Home Loan Mortgage

Indexes Affecting Rate Lock

Medium

Unknown

Fed Talk

We will only be watching a couple of Fed member speeches today and this afternoon’s results announcement of Treasury auction since there is no relevant economic data being released. There has been a pattern of afternoon weakness in bonds, leading to some lenders issuing an intraday increase to rates before closing. We do have an afternoon event taking place today to help drive bond trading, but we have to keep in mind that the overall tone during later trading has been negative this week.

Medium

Unknown

Treasury Auctions (5,7,10,20,30 year)

10-year Treasury Notes are being sold today, followed by 30-year Bonds tomorrow. If these sales are met with a strong demand from investors, we could see bond prices rise enough during afternoon trading, causing downward revisions to mortgage rates. However, lackluster bidding in the sales, meaning longer-term securities are losing their appeal, could lead to higher mortgage pricing during afternoon trading. Results will be announced at 1:00 PM ET both days, making these early afternoon events for mortgage pricing.

Medium

Unknown

Weekly Unemployment Claims (every Thursday)

Last week’s unemployment figures will be announced at 8:30 AM ET tomorrow. They are expected to show an increase in initial filings, hinting at a bit of weakness in the employment sector. Analysts are predicting 212,000 new claims, up 4,000 from the week before. The larger the number, the better the news for rates.

Rate Lock Advisory

Mortgage Rate Trend

Indexes Affecting Rate Lock

Fed Talk

Treasury Auctions (5,7,10,20,30 year)

Weekly Unemployment Claims (every Thursday)

Float / Lock Recommendation