Mortgage rates worsened towards the end of last week, but still showed an overall improvement. Today we are seeing rates worsen and inflation is back in the news. Rates are pretty good, this will will either set a nice floor or make a breakout to higher numbers.

 

Mortgage rates worsened a little last week, and stock rallied for 5 days. I am thinking rates may worsen this week as well, with a potential China resolution on trade coming and Companies start announcing last quarter earnings. We also have housing data, inflation data, and Retail Sales for December. If all of these are good, Stocks should rally which will drive mortgage rates higher.
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Mortgage rates pretty much took last week off, and the stock market battled with a sell off. But this is an issue, typically, when stock tank, investors put their money into Bonds, and they did NOT last week. Lots of economic data to digest this week, mainly focusing on Housing. Still no reason to float rates, they are continuing to go up!

Mortgage rates are still trending up, as last weeks wage inflation numbers was not pretty. This week we also have more wage inflation in the Consumer Price Index or CPI, which will really dictate rates. This will be the most looked at report this week. We also have the US selling debt in the form of Treasury auctions that will play a roll in rates as well. Anticipating rates worsening this week.
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In this Blog:

• FHA News about Mortgage insurance
• Realtor stealing drugs.
• Mortgage rates
• Social Median Postings

Mortgage rates for home loans were pretty much flat last week, after pretty good swing up and down.  We are still looking at locking, as the next tweet could send the stock market up or down, thus influencing bonds.  We are going to be ultra cautious as we get further and further into the month, as the Personal Consumption Expenditure or PCE report will come out on April 30th, and this is the primary report the Fed Looks to for inflation data.  Also The Fed is now purchasing less and less Mortgage Bonds each month, also adding fuel to the Rate Increase fire...remember 6% is not a bad rate!