Important Economic Data
This holiday-shortened trading week brings us the release of six monthly or quarterly economic reports. Only a couple of the reports being released are of high importance to the mortgage market, but with the Christmas holiday ending the week we can expect a volume of selling in the bond markets. Based on the movement we’ve seen in the 10-year Treasury Note already today, I’m switching to a LOCK recommendation for all but the longest-term closings
I believe Mortgage Interest Rates will stay the same possibly increase a tiny bit thru the Holiday Season
Lock/Float
If I was closing on a Home Mortgage in the next 0 to 15 Days - LOCK
If I was closing on a Home Mortgage in the next 15 to 30 Days – LOCK
If I was closing on a Home Mortgage in the next 30 to 60 Days - LOCK
If I was closing on a Home Mortgage in the next 60+ - FLOAT
Worth Noting:
New Home Sales also will be reported on Wednesday, and the weekly Unemployment Claims also will be released Thursday morning. The bond market will close early Thursday and will be closed all day Friday in observance of the Christmas Day holiday.
bc@SmarterBorrowing.com 617.771.5021
bc@smarterborrowing.com
617.771.5021
