Another Holiday Week, Even Less News!

This week, much like last week, is interrupted for the holiday.  Regardless, there’s not much going on.

Aside from the two economic reports listed below, there is nothing else for markets to digest and there are no planned speeches by members of the Fed (this can often catch lenders off guard if they aren’t watching the speaking schedule).

Many traders will probably take the week off.  This means volume will be especially light.  But don’t take this lightly and take your eyes off the market!  This can often mean high volatility.

For now, mortgage rates are hovering near their 2008-lows.  Given the path of the dollar and low-volume trading, that could all change in a flash.

What to Watch This Week?

Since there’s always a lot going on, I like to pick out the two most likely ‘market moving’ reports each week.  If I had to pick a couple of reports to watch, they would likely be:

1. Stock Market – All Week – This will give direction on where mortgage backed securities will go.  Remember, as fear enters the market, money moves from equities (the stock market) into bonds (mortgage backed securities).  Big moves in the stock market could mean big moves for mortgage rates.
2. ISM Index – Friday – Always a hint on how production is.  If this comes in weak, it’s a sign of a slowing economy.  Any guesses on how this will come in?…   🙂

You Can Stay Updated!

I’ll be following things as they happen with live mortgage bond quotes and do what I can to keep everyone informed through Twitter. My clients always get the advice first, so I’ll try to filter though as quickly as I can.

Here’s this week’s economic calendar:

As a Consumer, How Do You Keep Posted on the News?

I’ll do my best to keep you posted throughout the week via Twitter. If you’re interested in finding out more about what effects mortgage rates and which direction they’re headed, feel free to follow me!

Work With Mortgage Professionals In The Advice Business

It’s important to recognize that advice is extremely valuable when looking for a mortgage. The right advice can literally save you thousands of dollars, while the wrong advice can cost you the same.  Some mortgage professionals really don’t know what mortgage rates are based on, period.  If you want to get the best deal, having a professional that can give you that type of advice is extremely important.

Why Am I Posting A Calendar?

I provide this weekly news update because too often when we’re shopping around, we ask the wrong questions. The first thing you’ve got to have your antenna up on is economic news if you want to have any idea what direction rates are moving.

So You Say, What Are Mortgage Rates Currently?

I get this question all too often. If I’m being fair.. and honest (which is my policy). I would be doing you a huge disservice to just quote a rate.

Truth be told, there are literally 27 different factors that go into a custom rate quote. There are also thousands of programs (constantly changing as well). It’s extremely important that you are educated on what is available and most importantly what is the best mortgage plan for you to personally implement.

It’s natural to have a list of questions. I’d love to help work through them with you and educate you on what you need to know about the mortgage process. I can help with everything from how to pre-qualified to what to do after closing (where I will continue working for you)!

It’s what we do, and it would be my honor to add you to our list of raving fan clients. If you’re currently looking for a mortgage loan or know someone that might have questions about one, please have them contact me. I’d be happy to assist them. It’s literally what I love doing! I promise to take great care.

Original Photo Kudos.

Tagged as: Economic News, mortgage news