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?
Investors nervous about French election
It’s more of the same for mortgage rates today. Geopolitical concerns are continuing to keep Treasury yields and mortgage rates lower. Particularly, all of the buzz surrounding the French presidential election right now has investors nervous to make any major moves in the stock market.
Click here to get today’s latest mortgage rates (Apr. 18, 2017).If you haven’t been paying attention, the basic gist is that populist candidate Marine Le Pen and left-winger Jean Luc Melenchon both have stated that they would declare a referendum for France to leave the European Union, if elected.
That vote is worrying for investors who fear that it could mean the end for EU. The polls right now show a close race between four candidates (Le Pen, Melenchon, Macron, Fillon), with Le Pen and Macron the likely victors in the first round.
See what your custom rate would be.
The way French presidential elections work is that if a candidate receives more than 50% of the vote in the first round, they win the election. If that does not happen, there is a final run-off between the top two first-round candidates.
Most polls show that Macron would beat Le Pen in a run-off, but as we recently saw here in the states, polls don’t always get it right. That’s why investors are staying in the safe haven of government bonds until they’re worries are allayed.
The first round is on April 23rd, while the second would take place on May 7th.
What does this mean for me?
Makes sense to see if you can save
Mortgage rates are hanging around 2017 lows. That means the opportunity is there for many borrowers to lock in a low rate on a purchase for years to come. It also means that many homeowners could save money by refinancing into a lower rate.
It really only takes a few minutes to fill out some information and get a personalized rate quote on our website, or to make a quick phone call to one of our experienced mortgage specialists to get started.
Today’s economic data:
Housing Starts
Housing starts sunk 6.8% in March to 1.215 M. That’s the lowest reading since November. Permits, thanks to multi-family homes, rose 3.8% month over month.
Industrial Production
Industrial production rose by 0.5% in March. Manufacturing production on the other hand declined by 0.4%. The capacity utilization rate is now at 76.1%.
Fedspeak
Notable events this week:
Monday:
- Empire State Mfg Survey
- Housing Market Index
- Fedspeak
Tuesday:
- Housing Starts
- Fedspeak
- Industrial Production
Wednesday:
- EIA Petroleum Status Report
- Fedspeak
- Beige Book
Thursday:
- Fedspeak
- Jobless Claims
- Philly Fed Outlook
Friday:
- Fedspeak
- PMI Composite Flash
- Existing Home Sales
from Total Mortgage Underwritings Blog http://ift.tt/2pOshuI
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