Surprise Improvement In Today's Mortgage Rates 2-12-2018

By James Brooks

The bond market is up 4/32 (2.85%), but we still should see an improvement in Raleigh area rates by .125 of a discount point.

There is nothing of importance taking place today or tomorrow. The rest of the week brings us the release of six monthly economic reports that have the potential to influence mortgage pricing. Some of those releases are considered to be highly important to the financial and mortgage markets. In addition to the data, we also will be watching the stock markets for direction. The data scheduled this week can make it an active week for the bond and mortgage markets on their own. If we see more of last week?s volatility in stocks, it sure is going to be another crazy week for mortgage rates.

The calendar will start early Wednesday morning when the Commerce Department posts January's Retail Sales data and the Labor Department release the Consumer Price Index (CPI). These reports are very important to the financial markets as they measure consumer spending and consumer-level inflation respectively.

Overall, the most important day of the week, assuming stocks avoid a massive sell-off or rally, will probably be Wednesday with two important reports set for release (Retail Sales and Consumer Price Index). Thursday could be noticeably active also due to the release of the Producer Price Index and Industrial Production reports. That said, any day can be a major day if stocks get as volatile as they were last week. This would have been a pretty active week for mortgage rates even if stocks weren?t a concern, so please maintain contact with your mortgage professional if still floating an interest rate.

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.

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