Welcome to the Total Mortgage Current Mortgage Rates Blog. There’s some economic data out today, but first, your daily mortgage rate forecast/advice.
Click here to get today’s latest mortgage rates.
Where are mortgage rates going?
Markets focus on Trump
With the Fed in blackout mode ahead of their FOMC meeting next week, and little economic data out, much of the focus this week will be on President Donald Trump. After a rough first weekend in the White House, he’s got a busy first week in the oval office, meeting with business leaders, drawing up plans, and signing executive orders.
As far as mortgage rates are concerned, details about Trump’s economic plan will have the greatest effect. Financial market participants have been eagerly waiting for any articulation on how Trump plans to stimulate the economy, but so far, they’ve been waiting in vain. The most recent disappointment came during Trump’s inauguration speech. Many had thought that Trump would give them something to chew on, but his speech wound up being short and devoid of any details.
Now that he’s finally president, it stands to reason that he’ll be more forthcoming about his economic plan. If investors are satisfied with whatever plan Trump comes up with, mortgage rates will rise.
Click here to get today’s latest mortgage rates.
What does this mean for me?
The path ahead is cloudy, and there’s a high chance of turbulence. I think that anyone who is looking into purchasing a home or refinancing their current mortgage should proceed carefully, but with mortgage rates likely to move higher in the long-term, most people will be better off acting sooner rather than later.
Today’s economic data:
- There’s no significant economic data out today.
Click here to get today’s latest mortgage rates.
Notable events this week:
Monday:
- Nothing
Tuesday:
- PMI Manufacturing Index
- Existing Home Sales
Wednesday:
- EIA Petroleum Status Report
Thursday:
- International Trade
- Jobless Claims
- New Home Sales
Friday:
- Durable Goods Orders
- GDP
- Consumer Sentiment
from Total Mortgage Underwritings Blog http://ift.tt/2jJsC00
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