We had a pretty uneventful last week with mortgage bonds and rates moving sideways in a fairly tight trading range. Not much scheduled for today but we have the potential for an interesting week ahead of us with some big name economic data releases, some talking Feds including new head of the Fed Yellen, and a bunch of Treasury bond auctions. Depending on the economic data that gets released things could get dicey this week. Rates have the potential to move in either direction and if your ability to qualify is sensitive to the interest rate and payment it may be a good idea to lock your rate ahead of the economic reports. We pretty much already know Janet Yellen’s opinions on the economy so as long as she sticks to what she has been saying it shouldn’t affect markets too much. But without a crystal ball we have no way of predicting the economic reports so this is where the risk factor comes in. It’s all about the fundamentals this week.
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