Current Mortgage Rates for Wednesday, January 11, 2017

January 11, 2017 by Leave a comment

Welcome to the Total Mortgage Current Mortgage Rates Blog. There’s some economic data out today, but first, your daily mortgage rate forecast/advice.

Click here to get today’s latest mortgage rates.

Where are mortgage rates going?

Treasury yields and mortgage rates are on hold this morning ahead of Donald Trump’s press conference and a 10-year note auction. The press conference, which is scheduled to happen sometime around 11:00am today, is Trump’s first since winning the election.

His transition team had initially aimed to hold it sometime in December, but eventually felt that more time was needed in order to straighten out Trump’s business dealings. There have been many calls for Trump to take care of the conflicts of interest regarding his many business ventures, and he will supposedly address those concerns today.

Click here to get today’s latest mortgage rates.

Depending on how the press conference goes, and if Trump will open the floor to reporters for questions, it’s possible that he will be forced to talk about everything from his economic plan to the recent claims about Russia meddling in the the presidential election.

As far as mortgage rates are concerned, any details about his economic plan that bolster public opinion about the economy is likely to send rates higher. Markets have begun to grow somewhat skeptical about just how much Trump’s stimulus plan can do, but there are still plenty of financial market participants out there who are eager to lap up a vision of a booming economy.

Rates are still near record lows. Contact us today to see if we can save you money on your home payments.

What does this mean for me?

Mortgage rates are on hold this morning but there is a definite risk that they could rise today. That risk becomes greater and greater the further out we look. My recommendation for anyone in the market for a purchase or a refinance is to act sooner rather than later.

Today’s economic data:

EIA Petroleum Status Report

For the week of 1/6:

  • Crude oil: -7.1 M barrels
  • Gasoline: 8.3 M barrels
  • Distillates: 10.1 M barrels

10-year Note Auction

  • 1:00pm

Fedspeak

New York Federal Reserve Bank President William Dudley will speak at 1:20pm.

Click here to get today’s latest mortgage rates.

Notable events this week:                                     

Monday:  

  • Fedspeak

Tuesday:   

  • JOLTS

Wednesday: 

  • EIA Petroleum Status Report
  • 10-year Note Auction
  • Fedspeak

Thursday: 

  • Jobless Claims
  • Fedspeak
  • Import and Export Prices

Friday: 

  • PPI-FD
  • PPI
  • Retail Sales
  • Fedspeak

Rates are still near record lows.  Contact us today to see if we can save you money on your home payments.

Carter Wessman is originally from the charming town of Norfolk, Massachusetts. When he isn’t busy writing about mortgage related topics, you can find him playing table tennis, or jamming on his bass guitar.


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