Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!
Tuesday’s bond market has opened well in positive territory following last week’s sell-off. The stock markets are helping bonds by showing early losses with the Dow down 38 points and the Nasdaq down 6 points. The bond market is currently up 21/32, but we likely will see little change in this morning’s mortgage rates due to weakness late Friday.
There is no relevant economic news scheduled for release today. The bond market was closed yesterday in observance of the Columbus Day holiday, so today’s trading picks up from Friday’s levels. Last week closed on a significant sell-off so this morning’s gains in bonds could be investors finalizing positions. Some traders feel last week’s sell-off was…
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©Mortgage Commentary 2009
* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com
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