Today's Mortgage Rates Remain Stable 9-22-2017

By James Brooks

The bond market is up 2/32 (2.26%), but because afternoon weakness yesterday it will prevent an improvement in Raleigh area mortgage rates.

There is nothing of relevance being posted today that has the potential to affect mortgage rates. There are a couple of Fed member public speaking engagements set that may affect the markets if they bring any surprises. However, none of the topics are expected to bring too much attention. Therefore, they are not of concern.

What we are seeing some reaction to is overnight rhetoric from N. Korea about possibly testing a nuclear bomb over the Pacific Ocean rather than within its borders. That threat seems to carry some legitimacy in the markets, helping to boost bonds this morning. Whether or not they actually follow through on that threat remains to be seen. However, if they do, the bond market should react favorably.

Next week brings us the release of a handful of economic reports that are likely to affect bond trading and mortgage rates in addition to a couple of Treasury auctions. None of them are scheduled for Monday, so expect to see weekend news and possibly stock movement to be the biggest influences on mortgage rates as the week starts.

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... Lock 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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