Current Mortgage Rates Finish Down on the Week

Financial markets are not open today as they’ve shut their doors for Good Friday. It’s positive news for borrowers today, though, as mortgage rates have improved this week.

This makes right now a great time for anyone looking to refinance their current mortgage or purchase a new home to lock in a rate. Read on for more details.

Where are mortgage rates going?                                                   

Mortgage rates wind up lower on the week

Financial markets are closed today for Good Friday so the week is already wrapped up as far as the bond market and mortgage rates are concerned.

The yield on the 10-year Treasury note, which is the best market indicator of where mortgage rates are going, is currently sitting at 2.73%. That’s down about eleven basis points from the week’s high.

Mortgage rates typically move in the same direction as the 10-year yield, and similarly finished the week lower than where they started. It was more trade uncertainty and a hit to tech stocks that sent investors on a flight to safety into the bond market, pushing down yields.

This is the lowest that the 10-year yield has been at since early February. It comes somewhat unexpectedly after we got a positive outlook on the economy from the Federal Reserve last week.

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Rate/Float Recommendation                            

Lock now while rates are down 

Mortgage rates have improved on the week. That’s not something we’ve been able to say very often this year.

Long-term, rates are still expected to move higher so if you’re considering a purchase or refinance, your best bet is likely to take action sooner rather than later.

All it takes is a few minutes online or a quick phone call to get a free rate quote.

Learn what you can do to get the best interest rate possible.  

Today’s economic data:                                      

Markets Closed for Good Friday 

• Financial markets are closed

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Notable events this week:                

Monday: 

• Chicago Fed National Activity Index
• Dallas Fed Mfg Survey
• Fedspeak

Tuesday:    

• S&P Corelogic Case-Shiller HPI
• Consumer Confidence
• Richmond Fed Manufacturing Index
• Fedspeak

Wednesday:      

• GDP
• International Trade in Goods
• Pending Home Sales Index
• EIA Petroleum Status Report
• Fedspeak

Thursday:        

• Jobless Claims
• Personal Income and Outlays
• Chicago PMI
• Consumer Sentiment
• Fedspeak

Friday:       

• Markets Closed for Good Friday

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from Total Mortgage Blog https://ift.tt/2pQsuzR