Mortgage Rate News 9-8-2017
By James Brooks
The bond market is down 2/32 (2.07%), which should keep Raleigh area mortgage rates close to Thursday?s rates.
There is no relevant economic data scheduled for release today. That leaves us to believe stock movement is the best candidate as the source of an intraday change in rates. If the major stock indexes remain near current levels the rest of the day, bonds and mortgage rates are likely to follow suit.
Next week brings us the release of several economic reports that are likely to affect mortgage rates in addition to a couple of Treasury auctions. The data comes mid and late week while the auctions will take place mid-week. Monday doesn?t have anything set that we need to be concerned about.
If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now