Welcome to the Total Mortgage Current Mortgage Rates Blog. There’s some economic data out today, but first, your daily mortgage rate forecast/advice. Don’t feel like reading? Check out our market outlook series.
Where are mortgage rates going?
Mortgage rates flat to start the week
With political drama and policy meetings, the last two weeks have been busy ones for U.S. markets. That will change a little this week, with very little economic data out and no scheduled political events.
Click here to get today’s latest mortgage rates (Jun. 19, 2017).
Looking at the economic calendar, one thing that immediately catches the eye is the amount of Federal Reserve officials with speaking engagements. With a total of nine events scheduled, there will certainly be many chances for officials to voice their opinions on last week’s decision to raise rates and subsequent decision to remain on track for another hike this year.
With inflation still running low and economic data in general coming in a little on the soft side, it’s challenging for Fed officials to convince investors that a rate hike later in the year will happen. At this point, financial market participants want hard data, not policy promises.
All of this means that mortgage rates might not move too much this week. That’s what we’re seeing so far today, with little action happening in the bond market. The yield on the 10-year Treasury note (the best market indicator of where mortgage rates are heading) is barely up a tenth of a percentage point. Mortgage rates usually follow the lead of the 10-year yield.
What does this mean for me?
Lock now while rates are low
Mortgage rates continue to hover near 2017 lows. With the potential for little movement, this week could be a great time for anyone thinking about refinancing their current mortgage or purchasing a home to crunch the numbers and lock in a rate.
To get the most accurate idea of what kind of rate we could offer, you should fill out our short form and get a personalized rate quote. Or, if you’d rather talk to someone, you can always call one of our experienced mortgage specialists.
They can walk you through the same process, clarifying any questions you may have, and let you know what your custom rate quote is.
Today’s economic data:
Fedspeak
- New York Fed President William Dudley at 8:00am
- Chicago Fed President Charles Evans at 7:00pm
Notable events this week:
Monday:
- Fedspeak
Tuesday:
- Fedspeak
Wednesday:
- Existing Home Sales
- EIA Petroleum Status
Thursday:
- Jobless Claims
Friday:
- Fedspeak
- PMI Composite Flash
- New Home Sales
from Total Mortgage Underwritings Blog http://ift.tt/2rIhOq5
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