Mortgage Rates moved sideways this week as Mortgage Bond Prices continued their volitility.
Mortgage Bonds are now below support at the 35-Day Mobving Average. Mostly due to empty trading desks and low volume.
The outlook is for rates to continue in this sideways pattern in the short term.
With the end of the year upon us, many have taken advantage of the very low rates. Those who haven’t still can do the same, as rates remain low. From all of us at North Atlantic Mortgage during this holiday season- we appreciate your business.
We wish you a Happiness, Health and Prosperity throughout the year.
Economic News
Core Personal Consumption (PCE) Index came in ay 0.1%, which met expectations, which shows that inflation will continue to remain tame.
Consumer Sentiment Improves More than Expected, Index at 69.9 in December
Jobless Claims Fall More than Expected, Down 4,000 to
364,000; Economy Grew Less than Expected in Third-Quarter, Up 1.8%
Homebuilders See Surge in Potential Buyers, With Home
Builders Index Rising for Third Straight Month to 21