Daily Loan Rate Advisory

Wednesday's bond market has opened in positive territory, recovering some of yesterday's losses. The stock markets are mixed with the Dow up 33 points and the Nasdaq down 7 points. The bond market is currently up 4/32, but we may still see a slight increase in this morning's rates as a result of weakness in bonds yesterday.

There is no relevant economic news scheduled for release today, so I am expecting to see a relatively calm day in the bond market as long as the stock markets do not stage a significant rally or sell-off. This should keep mortgage rates at this morning's levels.

Tomorrow's data is not considered to be of high importance to the bond market or mortgage rates. The Labor Department will release last week's unemployment filings, which are expected to stand at 305,000. This may cause some fluctuation in the markets, but likely not enough to cause much movement in mortgage rates.

There are two housing related reports scheduled for release this week. February's Existing Home Sales report will be released late tomorrow while New Home Sales will be posted Friday. Neither will likely have much of an impact on mortgage rates. They give us a measurement of housing sector strength and mortgage credit demand, but are usually considered to be of low importance to the financial markets. Both are expect ed to show small declines in sales.

The last piece of data is Friday's release of February's Durable Goods Orders. This report gives us a measurement of manufacturing sector strength. It tracks new orders for big-ticket items, or products that are expected to last three or more years. This data is known to be volatile from month to month but is still considered to be of high importance. Analysts are expecting it to show an increase in orders of approximately 1.0%. A larger increase would be considered a negative for bonds and could lead to higher mortgage rates Friday morning.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Float if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an op inion and cannot be guaranteed to be in the best interest of all/any other borrowers.

Daily Loan Rate Advisory

Charlotte Home Loan And Mortgage Tips

This and many other free tips on the Charlotte mortgage process and offering are compliments of Lee Sharpe of STS Financial Corporation.

STSFC is a Charlotte Mortgage and Home Loan firm located in beautiful Huntersville, NC providing professional services to the greater Carolinas. STSFC services areas such as Huntersville, Mooresville, Davidson, Lake Norman, Charlotte, University City, Matthews, Rock Hill and Concord North Carolina.