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 improved last week, as volatility in the stock market is sending investors to Bonds and Mortgage Back Securities. Although a short trading week, we do have unemployment numbers and more important wage inflation being released at the end of the week. Also word out is progress on China Trade. This could break our trend and cause stock to rally.

 

In this Blog:

• Mortgage rates are going up
• Rocket Homes?
• Down Payment Assistance update
• more!!!!

Mortgage rates ticked up again, for the 3rd Straight week. With focus again on inflation, Federal Reserve unwinding of their bond purchase and slower retail sales. This week we will have lots of housing data coming in as well as more tariffs. Probably another bad week for bonds and mortgage rates.
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As anticipated, rates went up last week, and economic data and geopolitics pointed to higher rates. This week has started out kind of scary, and we have a pretty good jump in the in the 10 Year Bond Yield, and Mortgage Back Securities, which both broke through some pretty good resistance levels. It looks like most traders sold bonds and stocks, thus going into cash with the worry about additional tariffs against China and Canada. This week will also have unemployment numbers. Not going to be a good week for rates.

#1stChoiceLender #1stChoiceMortgage #mortgagebroker