Current Mortgage Rates Increase on Thursday

Mortgage rates have moved a little higher over the past twenty-four hours as investors breathe easier about trade-war concerns.

Tomorrow there is another possibility for rates to increase when we get the monthly jobs report for March.

That report will be released early in the morning. Read on for more details.

Where are mortgage rates going?                                   

Rates rise as trade war concerns lessen

Financial market participants are nothing if not fickle.

As we’ve seen over the past few weeks, trade war concerns have cropped up and spooked investors out of stocks and into the perceived safety of government bonds.

That’s what happened early on this week, keeping mortgage rates lower.

However, that trend began to reverse itself yesterday, with more money moving into stocks, pushing Treasury yields higher.

The yield on the 10-year Treasury note moved up about six basis points in afternoon trading and is currently holding at those levels at 2.82%.

Mortgage rates typically move in the same direction as the 10-year yield, so they’ve increased from where they were yesterday morning.

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Rate/Float Recommendation                              

Lock now before rates increase significantly 

While mortgage rates might stay in a tight range for several weeks, long-term they are almost certainly going to wind up significantly higher than where they are right now.

That means that most borrowers will be better off locking in a rate on a purchase or refinance sooner rather than later.

Learn what you can do to get the best interest rate possible.  

Today’s economic data:                                       

Jobless Claims 

Applications filed for U.S. unemployment benefits moved up 24,000 from the prior week to 242,000 for the week of 3/31/18. That puts the 4-week moving average at 228,250.

International Trade 

The nation’s trade deficit widened to $57.6 billion in February.

Fedspeak 

Atlanta Fed President Raphael Bostic at 1:00pm.

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Notable events this week:                

Monday: 

• PMI Manufacturing Index
• ISM Manufacturing Index
• Construction Spending
• Fedspeak

Tuesday:    

• Fedspeak

Wednesday:      

• ADP Employment Report
• Fedspeak
• PMI Services Index
• Factory Orders
• FOMC Minutes
• ISM Non-Mfg Index
• EIA Petroleum Status Report

Thursday:        

• Jobless Claims
• International Trade
• Fedspeak

Friday:       

• Monthly Jobs Report

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from Total Mortgage Blog https://ift.tt/2HdutpJ


via Zero Mortgage Insurance