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MORTGAGE UPDATE for JANUARY 6th, 2020

What’s going on and why does it matter? Mortgage bonds opened higher this morning on global risk aversion, with geopolitical headlines likely to dominate the market’s attention this week. Tensions are growing in the Middle East after last week’s killing by the US of Iran’s top military commander with Iran vowing retaliation. The fallout from the action is adding to market jitters with Iran saying it would no longer abide by the 2015 nuclear deal and President Trump warning Iran it has targeted sites to bomb in the event it retaliates. In the meantime, the economic calendar is back in full swing as the first full trading week of 2020 gets underway, with the closely-watched jobs report scheduled for release on Friday.

What should you do about it? Watch for mortgage bonds to continue their rally, but be prepared to lock your rate if the market changes directions.

– Brian D. Reno, CMPS® | BDR Mortgage | NMLS #215776

 

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Kurt Fancher / Fancher Mortgage Group
Brian Reno / BDR Mortgage
Jared Shore / Parker Mortgage
Matt Slater / Northpointe Bank

*Figures deemed reliable, but errors may occur. Rates and terms subject to change without notice.