Weekly Market Update

What's going on and why does it matter?

Mortgage bonds opened lower today and they are hovering near their 30-day and 100-day moving averages. The market was quite volatile last week as it digested news regarding

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Brexit, US-China trade negotiations and the Fed's monetary policy statement. It seems likely that the volatility may be tempered this week in light of clarity on those items. The vote in the UK made it possible for Britain to finally leave the EU on January 31, while a phase one US-China trade agreement is confirmed by both sides to be near completion with certain tariffs already suspended. The economic calendar is quite full this week, and the market will have a lot to digest prior to next week's holiday break.

What should you do about it?

Lock your rate to be safe.

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Economic reports that may impact mortgage rates this week: