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WEEKLY MORTGAGE UPDATE FOR MONDAY, FEB 12th, 2019
What’s going on and why does it matter?Mortgage bonds opened lower this morning as risk appetite slowly returns to the financial markets. Investors have hopeful expectations regarding US-China trade talks, with another round of high-level meetings scheduled later this week in Beijing. Even so, another partial government shutdown looms at the end of this week if Democrats and Republicans remain unable to resolve their differences in regards to funding the government and President Trump’s border wall. The economic calendar is light today, but it picks later this week with the highlights being consumer inflation (CPI) on Wednesday, wholesale inflation (PPI) on Thursday, and retail sales on Friday.
What should you do about it?
Watch for mortgage bonds to continue trading above their 30-day moving average, but be prepared to lock your rate quickly if mortgage bonds fall below that level.
– Brian D. Reno, CMPS® | Norcom Mortgage | NMLS #215776
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