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WEEKLY MORTGAGE UPDATE FOR MONDAY, NOV 5th, 2018
What’s going on and why does it matter?
Mortgage bonds are trading at their worst levels of the year as this week of trading gets underway. The economic calendar is relatively light this week, but financial markets will be closely watching the midterm elections on Tuesday, and the Federal Reserve’s monetary policy decision on Thursday. The market is expecting no change to the Fed’s monetary policy this week, but odds remain near 75% for a December rate hike. As for the elections, the market is expecting a divided Congress with the Democrats winning the House majority and Republicans holding onto the Senate. It will be interesting to see how the week plays out. – Brian D. Reno, CMPS® | Norcom Mortgage | NMLS #215776
What should you do about it?
Lock your rate to be safe.
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*Figures deemed reliable, but errors may occur. Rates and terms subject to change without notice.