December 30th, 2016 11:04 AM by T. Fanning
Last Updated: 12/30/16Friday's bond market has opened in positive territory with stocks showing early losses and little else happening to affect trading. The Dow is currently down 31 points while the Nasdaq has lost 38 points. The bond market is currently up 3/32 (2.46%), which should improve this morning's mortgage rates by approximately .125 of a discount point if comparing to Thursday's morning pricing.Yesterday's 7-year Treasury Note auction nearly followed suit of Wednesday's 5-year Note sale, drawing a strong interest from investors. Bonds had improved from their morning levels prior to results being posted at 1:00 PM ET, but they did improve more following the results being announced. That led to several lenders making downward revisions to mortgage rates before the end of the day yesterday.There is no relevant economic data being posted today. The bond market will close at 2:00 PM ET ahead of Sunday's New Year's Day holiday while stocks are open for a full day of trading. All the financial markets will be closed Monday in observance and will reopen for regular trading hours Tuesday. It is fairly common for some traders to sell small portions of their holdings before a holiday or long weekend to protect themselves from unforeseen events that may take place while U.S. markets are closed. This may or may not influence mortgage rates, but the possibility does exist.Next week does not have a large number of economic reports scheduled for release, but most of what is coming is considered highly important or key data. Due to the Sunday holiday and Monday closing, we will post the weekly preview Monday instead of the traditional Sunday evening. We would also like to take this opportunity to wish you and yours a safe holiday!If I were considering financing/refinancing a home, I would....Lock if my closing were taking place within 7 days...Lock if my closing were taking place between 8 and 20 days...Float if my closing were taking place between 21 and 60 days...Float if my closing were taking place over 60 days from now...This is only my opinion of what I would do if I was financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.**http://www.hlmcolorado.com/DailyRateAdvisory
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