You might be wondering, what are mortgage rates doing today…should I lock?
The fellas at ThinkBigWorkSmall gave a good snap shot today of what to look for in this weeks market. It appears that the mortgage market opened today a tad weaker than it closed on Friday. The focus in the economy today, where the experts watch to foresee mortgage trends, is in foreign works. Since Europe’s reports of industrial production brought good news, American moral in the stock market was good. Remember the rule of thumb to track mortgage rates, “whats good for stocks is bad for mortgage rates, and what is good for bonds is good for mortgage rates”…track the 10 yr treasury. As rates on treasuries increase, so would mortgage rates.
Without any major reports that have a direct hard hit on rates coming out this week, the gauge is expected to teeter a little up and a little down, but to an extent that the buyer/borrower may not see a change in rate.
Have you seen my new work photo? 🙂