Current Mortgage Rates for Wednesday, January 11, 2017
Welcome to the Total Mortgage Current Mortgage Rates Blog. There’s some economic data out today, but first, your daily mortgage rate forecast/advice.
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.
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.
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
New York Federal Reserve Bank President William Dudley will speak at 1:20pm.
Notable events this week:
- EIA Petroleum Status Report
- 10-year Note Auction
- Jobless Claims
- Import and Export Prices
- Retail Sales
Filed Under: Current Mortgage Rates, Mortgage Interest Rates, Mortgage Rate Trends and Analysis, Mortgage Rates, Rates
Tagged with: Current Mortgage Rates, daily mortgage rates, Mortgage Rates, mortgage rates today, todays mortgage rates