The Week in Review:
Mortgage interest rates remained relatively unchanged during the week. However, the upward pressure on rates remains intact.
What to Expect:
While the markets are closed Monday for President’s Day, the rest of the week contains market moving economic reports and releases. Wednesday the minutes from the Fed’s last meeting are released. Not all Fed members agree on the state of the economy and whether stimulus should be continued. We’ll get a little insight into how each member is voting.
Economic reports include updates on inflation, employment and manufacturing. It should be a big week.
Overall, the stock market remains strong and it is pulling funds out of bond markets causing rates to climb. We remain in lock mode as we have for the last couple of months.
For transactions closing in:
Next 30 Days: Lock
Next 30+ Days: Lock
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