Rates Staying Sideways Ahead of Big-Ticket Events

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Posted To: Mortgage Rate Watch

Mortgage rates were sideways to slightly higher today as financial markets returned for the final 2 days of the holiday-shortened week. Trade war anxiety is front and center for both stocks and bonds (which dictate rates). Fear of negative economic fallout surrounding trade policies is keeping stocks in a holding pattern just off their recent highs. Tomorrow, investors will also have to contend with an important scheduled event in the form of the big jobs report at 8:30am ET. While the jobs data is always capable of causing volatility for rates, it will be balanced against trade-related developments due to the scheduled implementation of new tariffs on China at midnight. For instance, if trade-related fears are causing markets to panic, that panic could easily help bonds more than a strong…(read more)

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