Good Morning,
As you may already have read, Durable Goods Orders came in MUCH higher than analyst’s expected. According to fundamental economic reactions, this should stimulate a sell-off of bonds and an increased investment in the stock market. We were all hoping that mortgage rates would come down today, but if the stock market does rise and bond prices decline, rates will surely go up.
So far we are okay because mortgage rates were not increased by every lender this morning, so if your looking for a window of opportunity to lock in before everyone “re-prices” for the worst jump on the lock-train right now.
Leave a Reply