April 21st, 2023 12:06 PM by T. Fanning
Hi, happy Friday, I hope you’re having a good day.
Rates ended the week up a tad from last Friday. Next week has a handful of economic releases scheduled and a couple of potentially impactful Treasury auctions. The list of reports set for release includes the first Gross Domestic Product (GDP) reading of the 1st quarter and the Fed's preferred inflation reading. There are also less influential releases that are worth watching. The week starts off light with nothing of importance set for Monday, meaning we can expect weekend headlines to drive trading that day.*
We offer Conventional, FHA, VA, USDA, Jumbo and regular construction financing. Some of our niches include: Chenoa Fund loans (100% FHA financing); Conventional, FHA and VA 1x Close Construction-Perm; 1.50% Down FHA Advantage Program; CHFA Financing; HomeStyle renovation program; and a Jumbo, 5% down program. We can also do non-traditional programs! To see a detailed list of programs, visit our website: www.homeloanmortgageco.com/mortgageprograms
Last Updated: 4/21/23
Friday's bond market has opened in negative territory despite no major data being posted. Stocks are calm but mixed with the Dow up 21 points and the Nasdaq down 43 points. The bond market is currently down 8/32 (3.56%). However, a little strength late yesterday is going to keep this morning's mortgage rates close to Thursday's early pricing.
There isn't much going on today that is expected to have an impact on rates. The early negative tone in bonds could lead to more losses by the end of the day, possibly causing an intraday increase in rates. If current levels hold in bonds, mortgage rates should follow suit.
Next week has a handful of economic releases scheduled and a couple of potentially impactful Treasury auctions. The list of reports set for release includes the first Gross Domestic Product (GDP) reading of the 1st quarter and the Fed's preferred inflation reading. There are also less influential releases that are worth watching. The week starts off light with nothing of importance set for Monday, meaning we can expect weekend headlines to drive trading that day. Look for details on all of next week's activities in Sunday evening's weekly preview.
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... Lock if my closing were taking place between 21 and 60 days... Lock 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.*
*https://www.homeloanmortgageco.com/DailyRateLockAdvisory
Company NMLS ID: 479289 | LO NMLS: 208694
CO License: 100008854
FL Company License: MBR4416 | FL License: LO89221
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