August 19th, 2016 9:29 AM by T. Fanning
Last Updated: 8/19/16Friday's bond market has opened in negative territory despite early stock selling also. The major stock indexes are showing moderate losses of 62 points in the Dow and 6 points in the Nasdaq. The bond market is currently down 16/32 (1.58%), but slight strength late yesterday is limiting this morning's increase in mortgage rates to approximately .125 of a discount point if comparing to Thursday's morning levels.There is nothing of importance scheduled for release today. Traditionally, on days like this we would normally turn towards stocks for direction. Unfortunately, that isn't going to be of much good to us since stocks are also showing losses. What usually is bad for stocks is good for bonds. That is not the case today, so we left with little to reference to as the week comes to close.Next week brings us a wide range of events to follow that may influence mortgage rates. There is a handful of economic reports, a couple of Treasury auctions and a two-day Fed conference in Jackson Hole, WY. The data ranges from minor to important, but none are considered key or potential market-movers. The week starts off light with nothing scheduled for Monday and only a housing report that is considered to be of low-importance Tuesday. All the good stuff takes place Wednesday, Thursday and Friday.Look for details on all of next week's relevant activities in Sunday evening's weekly previewIf 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. http://www.hlmcolorado.com/DailyRateAdvisory
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