The Mortgage Man

Get more out of your mortgage experience!

Monday November 10, 2008

Stocks are higher this morning following a rally in the Chinese market after a government stimulus plan for $586 Billion was announced to help relieve their struggling economy.  As the stock market shows signs of life, it will continue to put pressure on bonds this week to hold their current levels above established resistance.

Also scheduled this week, the Treasury Department will be auctioning off $55 Billion in treasury notes which will no doubt put even greater pressure on the bond yield.  If the yield on mortgage bonds falls, mortgage rates will go up to meet the market demand.

Watch rates carefully this week.  If you have a loan in process, it would probably be prudent to lock ahead of potentially bad news in the financial markets.  If you are still looking for a house, or are not ready to lock, it may cost you on your mortgage rates later this week.

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1 Comment»

  Susan wrote @

I recently came across your blog and have been reading along. I thought I would leave my first comment. I don’t know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.

Susan

http://www.car-insurance-choices.com


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