Daily Rate Lock Advisory

Indexes Affecting Rate Lock

High

Negative

Bond Trends

Unfortunately, the bond selling may not be over yet. It appears there may be more room for bond yields and mortgage rates to move higher before settling down, particularly over the next day or two. If closing in the near future, it would be prudent to consider locking a rate if still floating.

Low

Neutral

New Home Sales

This morning’s only economic data was August's New Home Sales report from the Commerce Department at 10:00 AM ET. They announced a 1.5% increase in sales of newly constructed homes last month. This was in line with forecasts after an upward revision to July’s sales. Because this report covers such a small portion of all home sales in the country, it carries a low level of significance. Accordingly, we have not seen a reaction to the data.

Medium

Unknown

Fed Talk

Fed Chairman Powell has a speaking engagement this morning via webcast that traders will be attentive to. Although, it is hard to imagine that we will get a major surprise after his press conference Wednesday afternoon. Still, we could see rates react heavily to something he says at this appearance.

High

Unknown

Durable Goods Orders

Next week is extremely active in terms of scheduled economic releases and other events that have the potential to influence rates. There are multiple events scheduled each day except Wednesday, the only day of the week without at least one item. The week starts with the important Durable Goods Orders report Monday and concludes with the very important ISM manufacturing index Friday. In between, there are plenty of other events that we will be watching. Look for details on all of next week’s activities in Sunday evenings’ weekly preview.

Rate Lock Advisory

Mortgage Rate Trend

Indexes Affecting Rate Lock

Bond Trends

New Home Sales

Fed Talk

Durable Goods Orders

Float / Lock Recommendation