Daily Rate Lock Advisory

Indexes Affecting Rate Lock

Medium

Negative

General Bond Trends

We don’t have any relevant economic data being released today. We are likely seeing traders digest this week’s events and data that raises optimism the U.S. economy will continue to grow. The Fed’s .500 rate cut has altered theories about the direction of the economy in the coming months. They lower key rates to boost economic activity to avoid slipping into a recession. This week’s news changed the opinion of some analysts that were predicting the economy would weaken, now predicting little chance of a recession. Since bonds tend to thrive in weaker economic conditions, we are seeing negative movement as a result.

High

Unknown

Durable Goods Orders

Next week has plenty of economic data and other events scheduled that may influence mortgage rates. It starts light with nothing of importance set for Monday but gets more active as the week progresses. The more important releases come late in the week, such as August’s Durable Goods Orders and Personal Income and Outlays that includes the Fed’s preferred inflation gauges. In addition to those and a few moderately important reports, there are also a couple of short-term Treasury auctions that may come into play during afternoon trading midweek.

Medium

Unknown

Fed Talk

Now that the FOMC meeting is behind us, so is the Fed’s required quiet period where members cannot speak publicly about the economy or monetary policy. Those Fed-member speeches get into full swing next week with a good number of them scheduled, including one by Chairman Powell Thursday morning. They are spread throughout the week, meaning they may affect bond trading and mortgage pricing multiple days. Look for details on all of next week’s activities in Sunday evening’s weekly preview.

Rate Lock Advisory

Mortgage Rate Trend

Indexes Affecting Rate Lock

General Bond Trends

Durable Goods Orders

Fed Talk

Float / Lock Recommendation