Will Mortgage Rates Mover Lower?

Well, it sure has been a hard fought week in the financial markets.  Equities are battling near the 50 day moving averages on the S&P 500, the Dow Jones and the Nasdaq composite indexes.  So far, these are proving to be price support.  So far.

The mortgage bond market had a horrible May and June hasn't been going all that great either.

However, prices are beginning to flatten out sideways the past few trading days.

Today, some good news.

Mortgage bonds were up 66 basis points (bps).   Check out the chart below:

For the casual passerby, green is good and red is bad for mortgage rates.

Hopefully, tomorrow or early next week we will see the price action break higher and break the downtrend we've been in since early May.  If you have a home purchase closing in late June and you have not locked in your rate yet you should wait and see if we can get a little lower by next week.

Are you buying a home?  Are you planning to buy a new home this summer?

If so, please reach out to me and let me explain why you really have a choice of using me or anyone else.  I'm happy to share my advice and what I can do.  If you find a better loan structure somewhere else I'll be the first to tell you to go with them.

But, if I can provide the best financing for you I will let you know.  In addition, you can rest assure that your closing will happen on time.

Brett Grendahl
Get my contact information here www.brettgrendahl.com
NMLS 455329

It's not just a house, it is your home!