What is Happening in the Mortgage Market Friday Rate Lock Advisory June 18th, 2010 10:17 AM   Friday's bond market has opened down slightly with no economic data or noticeable stock movements to influence trading. The stock markets are showing modest gains with the Dow up 9 points and the Nasdaq up 3 points. The bond market is currently down 5/32, which should keep this morning's mortgage rates close to yesterday's levels. There is no relevant economic data being posted today. However, it may be a fairly active day for the stock markets since today is "quadruple witching." This has to do with stock option expirations that must be executed and really has no direct relation to the bond market. But the higher than normal volatility in stocks when this occurs can influence the broader markets. Sometimes that may lead to funds being moved into or out of bonds, however, it usually does not affect mortgage rates unless the swings in the major indexes are significant. Next week is not too busy in terms of economic reports being released. Ther e are a handful of relevant reports scheduled for release in addition to another FOMC meeting and a couple of Treasury auctions that may influence bond trading and therefore mortgage rates. None of the relevant data is going to be released Monday. The week's first report comes late Tuesday morning, so the stock markets are likely influence bond trading and mortgage rates Monday. Look for more details on next week's events in Sunday's weekly preview. If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers. ©Mortgage Commentary 2010        Posted by Richard Woodward on June 18th, 2010 10:17 AMPost a Comment (0) Subscribe to this blog * Name: * Email Address: URL: Comment: Type the characters you see in this picture, click "Submit" when finished.   This helps us prevent automated programs from posting comments and sending spam. * Name: * Email Address: Address: City: State: Zip:   This helps us prevent automated programs from creating bogus contacts and adding them to your contacts database.

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