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What is happening with the markets that will impact rates.3.01.2014This afternoon news out of the Ukraine and Crimea hit markets like a hammer. The DJIA was up 125 points, then fell to -45 within an hour before bouncing back into the close; the S&P and NASDAQ also saw huge swings. The 10 yr note went from 2.70% to 2.65% then eased up again while MBS prices improved then fell back to levels seen at 9:30 this morning. The point is that markets are going to remain extremely volatile next week with a lot of domestic data and global concerns.
With market volatility rates will be unpredictable especially with so much economic data out next week. In lay mans terms bad news will be good for mortgage rates as investors move dollars to safe investments.
Have a great weekend
Mario del Pino