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WEEKLY MORTGAGE UPDATE for JUNE 24-30, 2019
What’s going on and why does it matter?
Mortgage bonds are still trading at their best levels of the year as bond yields across the world remain near record lows. Bloomberg reported last week that a whopping $12.5 trillion of global bonds have negative yields. This means that investors would rather lose money by owning these bonds than to put their funds in other investments. The economic calendar this week is quite full, although there are no major economic reports scheduled for release today. The market’s attention this week will likely be focused on geopolitical headlines. Risk appetite in the financial markets has been dampened by elevated tensions in the Middle East between the US and Iran. Even so, this could be offset by hopeful expectations of a restart in US-China trade talks after Presidents Trump and Xi meet at the G20 summit later this week.What should you do about it?
Watch and see if mortgage bonds can continue their rally, but be prepared to lock your rate if the market changes directions.
– Brian D. Reno, CMPS® | BDR Mortgage | NMLS #215776
OUR PREFERRED MORTGAGE LENDERS
Kurt Fancher // Fancher Mortgage Group
Tammy Hine // CIBM Mortgage
Brian Reno // BDR Mortgage
Jennifer Riley // FifthThird Bank
Jared Shore // Parker Mortgage
Matt Slater // Northpointe Bank
*Figures deemed reliable, but errors may occur. Rates and terms subject to change without notice.