Mortgage rates are unchanged this morning and very near 2014 lows.
We went into the weekend ‘floating’ waiting to see if the US stock market might break below an important technical level as I wrote about HERE. However, stocks recovered on Friday which is making hard for interest rates to improve.
The US economic calendar is light again this week. Wednesday’s Retail Sales report and Friday’s Producer Price Index (PPI) report will likely garner the most attention. Overall the domestic economic news has been positive which does not bode well for mortgage rates. However, international storylines continue to keep a lid on things.
Speaking of, the international situations in Ukraine, Iraq, and Gaza are very difficult to predict. Given that we are near 2014 low levels and stocks have reversed higher I will shift to a locking position.
Current Outlook: locking