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Tomorrow is the beginning of four days of fairly important economic reports and we're getting closer to the signing of the Phase One trade deal with China. For the most part the trade deal is "baked into" the bond markets so consumer mortgage rates should not be significantly impacted as we move closer to the signing date.
The President has said he may begin Phase Two negotiations immediately after the signing of the Trade One Deal or he may wait until after the election.
Mortgage Rates And What To Look For:
Mortgage rates are stable to start the week and fixed mortgage rates remain more attractive than Adjustable Mortgage Rates (generally speaking). 30 year fixed rates for most borrowers remain below 4.00% and 15 year fixed interest rates (for most borrowers) remain below 3.50%.
Right now the 10 year treasury yield is around 1.85% and going back to October, 2018 it's been a range roughly between 1.70% and 2.00%. If the 10 year breaks above 2.00% that could put a lot of pressure on mortgage rates to move much higher than current levels.
For the market to move lower will probably need to see the 10 year yield break below 1.70% (convincingly). If it does don't expect mortgage rates ... more
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