Again this week, the Bond market faces another short holiday week. This creates lower trading volumes which could translate into unexpected price movements and spikes.
We are currently seeing a flight to safety as money moves into Bonds due to the tensions in the Middle East. This has helped the bond to improve some today. While we are still in very positive territory and experiencing some great low rates, we've not revisited the price high (lowest rate) set on December 17th. As the price of Mortgage Bonds move higher (improves), mortgage rates move lower (improves).
There are no economic reports being released today. On the calendar for the week are:
Tuesday - Consumer Confidence
Wednesday - Jobless Claims and Chicago PMI
Friday - ISM Index
Rates remain very attractive. Can they go lower? Sure. Will they? Possibly. But why risk it? They are great right now.
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Elizabeth has over 25 years in the financial and mortgage industry. In tune with the mortgage market, she provides refreshing, unrivaled knowledge leveraging expert resources and delivering results.
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