Weekly Market Update

What's going on and why does it matter?

Mortgage bonds opened slightly lower this morning as stocks continue to trade near record highs. The market is still cheering Friday's favorable jobs report while remaining optimistic about US-China trade with a phase one deal scheduled to be signed this week. The economic calendar today is empty, although it's quite full for the remainder of the week with several high-tiered economic reports scheduled for release. There are also several Fed policymakers who are scheduled to give speeches this week. Market sentiment this week may also be impacted by Q4 corporate earnings reports in the financial sector.

What should you do about it?

Watch and see if mortgage bond prices can continue to improve, but be prepared to lock your rate if the market changes directions.

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Economic reports that may impact mortgage rates this week: