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.
OUR PREFERRED MORTGAGE LENDERS
Get Pre-Approved. If you have been searching for the perfect mortgage lender with the perfect interest rate, you might find it is difficult to find a trustworthy, local source for your financing needs… Get in touch with us to get pre-approved today! The DHCO Realtors is well-connected to personalized, individual service that you want and need without the hassle.