Mortgage Rate Update December 21, 2015

Posted on by Evan in Rate Update, Swanson Home Loans Blog - Mortgage Rate Updates and More

Mortgage rates are unchanged from last Thursday’s update.  The bond market will close early on Thursday and be closed on Friday so this update will be the only one for the week.

I hope you have  a fantastic holiday season and Happy New Year!

HAPPY HOLIDAYS!
HAPPY HOLIDAYS!

Although it is a holiday shortened week the economic calendar is relatively full.  The highlights include the FHFA housing price index (Tuesday), existing home sales (Tuesday), durable goods orders (Wednesday), personal consumption expenditure price index (Wednesday), and new home sales (Wednesday).  Given that trading desks are lightly populated this week we could see some volatility since there will be fewer buyers and sellers in the marketplace.

From a technical perspective mortgage-backed bonds are trading in a relatively tight trading range between support and resistance.  The US 10-year treasury yield has improved by ~.125% following the Fed’s rate hike last Wednesday.  At ~2.19% the yield has a stiff floor of resistance that will make it hard for rates to move lower.

Current Outlook: locking

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