by Calculated Risk on 5/06/2019 07:27:00 PM
Monday, May 06, 2019
From Matthew Graham at Mortgage News Daily: Lowest Mortgage Rates in a Month
Mortgage rates dropped noticeably this morning as financial markets opened sharply changed from Friday's latest levels thanks to Trump trade tweets over the weekend. The stock market dropped to its lowest levels in several weeks before bouncing back as the day progressed. As money flew out of stocks, it found a safe haven in the bond market. Mortgage rates are most directly affected by the bond market, and when demand for bonds increases, rates fall.Tuesday:
The average lender was offering its best rates in roughly a month this morning. You'd have to go back to April 10th to see anything lower. [30YR FIXED - 4.25%]
• At 10:00 AM ET, Job Openings and Labor Turnover Survey for March from the BLS.
• At 10:00 AM, Corelogic House Price index for February.
• At 3:00 PM, Consumer Credit from the Federal Reserve.
Posted by Calculated Risk on 5/06/2019 07:27:00 PM