November 23rd, 2018 1:14 PM by T. Fanning
Last Updated: 11/23/18Friday's bond market has opened in positive territory with stocks mixed and traders still in holiday mode. The Dow is currently down 98 points while the Nasdaq is up 4 points. The bond market is currently up 7/32 (3.04%), which should keep this morning's mortgage rates close to Wednesday's morning pricing.All of the financial markets were closed yesterday for the Thanksgiving holiday but they might as well be closed today also. Trading is very light due to many traders still home for the holiday, meaning any movement today should not be taken seriously. Banks must be open for business today because of yesterday's holiday, so some bank-owned mortgage lenders may issue rates this morning while others will wait for Monday to do so. In other words, don't expect much today in terms of mortgage rates.The stock markets will close today at 1:00 PM ET while the bond market will remain open until 2:00 PM ET. It should be a pretty calm day for the mortgage market with little to drive trading. The markets will reopen for regular trading Monday morning.Next week brings us the release of a handful of relevant economic releases along with a couple of potentially influential Treasury auctions, a speaking engagement by Fed Chairman Powell and the minutes from the most recent FOMC meeting. Nothing on the calendar is considered a market moving event, but several carry enough significance to affect mortgage pricing. 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...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
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.