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Bond Market Update

Market Update

Friday, November 24, 2017

What's going on and why does it matter?

Mortgage bonds are hovering near their 200-day moving average after staging a nice rally on Wednesday. Fed Chair Yellen's speech earlier this week along with the minutes from the latest Federal Reserve meeting indicated that the Fed is concerned that inflation may remain low for the foreseeable future. This has dented the odds of future rate increases in 2018, although a rate hike in December is still widely expected. The Fed won't be buying any mortgage bonds today, but they'll be back in the market on Monday buying some GNMA mortgage bonds. The bond market closes early today, and trading volume is likely to be very light as many market participants are out for an extended holiday break.

What should you do about it?
Lock your rate to be safe.


Economic Calendar

Economic reports that may impact mortgage rates this week:

Date Report Period Prior Est. Actual
Tue 21 Nov Existing Home Sales Oct 5.39M 5.42M 5.48M
Wed 22 Nov Durable Goods Oct 2.2% 0.3% -1.2%
Wed 22 Nov Initial Jobless Claims Week of Nov 13 249k 240k 239k
Wed 22 Nov U of Mich Consumer Sent. Nov 100.7 98.0 98.5

Pegah Bozorgnia CMPS

Pegah Bozorgnia CMPS
NMLS Number: 910362
Apex Home Loans, Inc.
Corporate NMLS: 2884
pegah@apexhomeloans.com
https://www.apexhomeloans.com/pegah-bozorgnia
(301) 471-8487
3204 Tower Oaks Blvd., Suite 400
Rockville, Maryland 20852

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Apex Home Loans, Inc. NMLS #2884. For more information, please reference the NMLS Consumer Access Website at http://nmlsconsumeraccess.org. Licensed by: DE as a Lender by the Office of the State Bank Commissioner (011603); DC as a Dual Authority Mortgage Lender by the Department of Insurance, Securities and Banking (MLB2884); FL as a Mortgage Lender by the FL Office of Financial Regulation (MLD1088); MD as a Mortgage Lender by the Dept. of Labor, Licensing & Regulation (06-4989); N.J. Department of Banking and Insurance (2884); PA as a Mortgage Lender by the Dept. of Banking & Securities (45078); VA as a Lender and Broker by the State Bank Commissioner (MC1278); and WV as a Mortgage Lender by the WV Division of Financial Institutions (ML-34657).