We wish all of those people dealing with Hurricane Irma a safe passage and rapid recovery. You can CLICK THIS LINK to see some amazing footage of the storm as it appears from space.
Although the hurricane is expected to cause billions of dollars in damage it appears as though the destruction will not be as bad as originally feared. This is positive for the US stock market, which is trading higher this morning, and negative news for interest rates.
Mortgage rates are unchanged from the beginning of last week. Looking over a longer period, Interest rates have improved significantly since the middle of March when interest rates hit recent highs. From a technical perspective I am concerned that we are in store for a reversal higher. I think it is a good time to lock in.
This week’s economic calendar is relatively light. The highlights come on Thursday when we get the Consumer Price Index and Friday when we get Retail Sales/ Consumer Sentiment.
I am going to recommend locking at this time.
Current Outlook: locking