Mortgage Market At a
Glance

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After weak manufacturing numbers came out yesterday and a poor employment report led the news today, we were expecting another rough day for stocks. However, additional data showed that manufacturing had actually exceeded expectations. Strong growth in Australia and China has pushed investors back into stocks and prices are again on the rise. Currently the Dow is up 240 points.

Bonds and MBS are suffering, as investors flee the safe haven to get into more lucrative opportunities. Borrowing costs remain low, but are higher today then they were yesterday.

We will continue to monitor the markets. As we said in the Mortgage Market News on Monday, a continued upward trend for stocks will be good for the economy, but increase mortgage rates.

I hope this has helped your business and provided clarity for your clients.
Use “Post By Category” on the right to review previous “Mortgage Market At a Glance”.

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Mortgage Market At a Glance™ indicates the trend of mortgage rates and provides commentary about market conditions.

This format is not to meant to offer locking, or any other advice on any specific situation. It is for informational purposes only.

Market data is subject to change without notice.

Feel free to contact me if you have questions. 520-271-7495 Tom@TheHeathTeam.com