Mortgage bond prices were a bit more volatile last week pushing rates higher. The minutes from the last Fed meeting showed continued fears of inflation and traders remained pessimistic about any near term Fed rate reductions.
For the week, interest rates on government and conventional loans were worse by about 1/4 of a discount point.
The leading economic indicators release Monday will likely set the tone for the shortened trading week. Weekly jobless claims and consumer sentiment data will also be important. The bond market will close early Wednesday and Friday and will be closed the entire day Thursday for the Thanksgiving Holiday. The shortened and thin trading conditions could result in mortgage interest rate volatility. Lock in your customers today.
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