No Change In Today's Mortgage Rates 8-11-2017

By James Brooks

The bond market is unchanged (2.20%), which should keep Raleigh area mortgage rates unchanged for today.

Yesterday?s 30-year Treasury Bond auction went pretty smoothly with some of the benchmarks pointing towards a strong demand for the securities. This helped boost bonds a bit during afternoon trading.

July's Consumer Price Index (CPI) was today?s only relevant economic data. The 8:30 AM ET release showed a 0.1% increase in both the overall and core readings. Analysts were expecting to see a 0.2% rise in both, making the data favorable as it indicates inflationary pressures at the consumer level of the economy were softer than many had thought.

Next week brings us the release of several economic reports that may influence mortgage rates, including one very important measurement of consumer spending. In addition to those reports, we also will get the minutes from the most recent FOMC meeting. Monday has none of these events scheduled, so we can expect weekend news, particularly geopolitical military talk, to drive the markets and mortgage rates as the new week begins.

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.

Post a Comment