Thursday, December 7, 2017

What's going on and why does it matter?

Mortgage bonds are drifting sideways as they trade in a range between their 200-day and 100-day moving averages.  Unemployment claims have declined for three weeks in a row per today's numbers, and the market is bracing for a strong jobs report tomorrow. In the meantime, look for bonds to take a wait and see approach during today's trading... barring, of course, any market-moving headlines coming out of Washington. The Fed is scheduled to purchase up to $1.51 billion of 30-year conventional mortgage bonds today.

What should you do about it?

It may be a good idea to lock your rate ahead of tomorrow's closely-watched jobs report.

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