So, here’s the scoop on what’s been going on with the markets as of late. After all the big economic news last week, things have kind of calmed down. The bond market’s been a bit stronger, which means the rates have dipped just a tiny bit. But honestly, they’ve pretty much been at the same low point for the past week.
As of the end of Thanksgiving week? Not much has changed.
I don’t expect any major changes until we get more economic updates, which won’t be until early December.
This past week the bond market and mortgage lenders took a break for Thanksgiving, essentially closing shop end of the day Wednesday. On Friday, the bond market’s opened for a half-day, but not all mortgage lenders updated their rates. It’s kind of a mixed bag, so we’re better off waiting until Monday to get a clearer picture of what’s happening with mortgage rates.
Although anything can happen, no real change is expected this coming week. Any real action is more likely to come next week, especially after the jobs report on December 8th. That’s when we might see some big moves. Keep your eyes peeled!