Welcome to the Total Mortgage Current Mortgage Rates Blog. There’s some economic data out today, but first, your daily mortgage rate forecast/advice.
Where are mortgage rates going?
Markets calm today after bumpy ride on Friday
On Friday, the markets went for a crazy ride as they dealt with the ramifications of a U.S. airstrike in Syria and an underwhelming March Jobs Report. The yield on the 10-year Treasury note fell down to its lowest point since November, only to surge late in the day and finish up several basis points. Mortgage rates tend to follow the path of the 10-year yield, and similarly tumbled down near 2017 lows in early Friday trading, only to climb up by the day’s end.
Click here to get today’s latest mortgage rates (Apr. 10, 2017).Today, things are starting out on a calm note, with the 10-year yield and mortgage rates up slightly from their previous closing marks. The big market moving events of the week are the following:
- Fed Chair Janet Yellen’s Speech Today
- Retail Sales and Consumer Price Index on Friday
Janet Yellen
Janet Yellen is set to give a speech today at 4:10pm at the University of Michigan’s Gerald R. Ford School of Public Policy. Investors are eager to see if she will divulge any further details about the Fed’s plans to unwind the $4.5 trillion in bonds on its balance sheet. The fact that they are considering starting that plan in 2017 was dropped last week with the release of the FOMC minutes.
Click here to get today’s latest mortgage rates (Apr. 10, 2017).While the markets will be closely watching her speech, the chance of her actually throwing out any juicy tidbits is not good. It’s more likely that she’ll just repeat what has already been said last week. However, it’s always important to tune in and pay attention on the off chance that something noteworthy is said.
Retail Sales and Consumer Price Index on Friday
It’ Good Friday this week, but economic data will still get released. Retail sales and CPI are usually two reports with significant market moving potential. Investors will be closely watching on Friday morning, but there’s the distinct possibility their market influence might be slightly muted this go around.
Click here to get today’s latest mortgage rates (Apr. 10, 2017).The prediction is for both readings to fall back a bit, which will come as no surprise to investors. At any rate, anyone looking to move on these reports will have to wait until the markets open on Monday.
What does this mean for me?
Right now is a great time to lock
Mortgage rates are flat to slightly higher this morning. They’re still hanging around levels that are just over 2017 lows. That means that anyone looking to lock in a rate on a purchase or refinance is dealing with a great rate environment to do so in.
It only takes a few minutes to fill out some information and get a personalized rate quote on our website, or a quick phone call to one of our experienced mortgage specialists to get started.
Today’s economic data:
- Fedspeak
- Fed Chair Janet Yellen will give a speech today at 4:10pm.
Notable events this week:
Monday:
- Fedspeak
Tuesday:
- JOLTS
- Fedspeak
Wednesday:
- Import and Export Prices
- EIA Petroleum Status Report
Thursday:
- Jobless Claims
- PPI-FD
- Consumer Sentiment
Friday:
- Good Friday: Banks Open, Markets Closed
- Consumer Price Index
- Retail Sales
from Total Mortgage Underwritings Blog http://ift.tt/2oqASpW
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