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WEEKLY MORTGAGE UPDATE for NOVEMBER 4th – 10th, 2019
What’s going on and why does it matter?
Mortgage bonds opened slightly lower as a new week gets underway, but they are still trading near their recent highs. Stocks are pointed to a positive open this week on US-China trade optimism after an announcement over the weekend that licenses for US firms to sell to Huawei would be granted “very shortly.” Sources are also reporting that Presidents Xi and Trump were in continuous contact by various means. Financial markets will also be paying close attention to various speeches this week, including Christine Lagarde’s first speech as President of the European Central Bank this afternoon. There are also speeches scheduled throughout the week from eight Fed policymakers and District presidents.What should you do about it?
Watch for mortgage bonds to continue trading in positive territory, but be prepared to lock your rate quickly 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
Jared Shore // Parker Mortgage
Matt Slater // Northpointe Bank
*Figures deemed reliable, but errors may occur. Rates and terms subject to change without notice.