Today's Mortgage Market at a Glance

Updated on September 25, 2020 10:08:04 AM EDT

Friday’s mortgage rates should be lower by approximately .125 - .250 of a discount point if comparing to Thursday’s morning pricing. The bond market is currently up 4/32 (0.65%).

Stocks are mixed with the Dow down 75 points and the Nasdaq up 12 points.

August's Durable Goods Orders report was posted at 8:30 AM ET this morning, revealing a 0.4% rise in new orders at U.S. factories for big-ticket products such airplanes, appliances and electronics. This was well below expectations of a 1.2% increase, indicating the manufacturing sector was not as strong as thought last month.

Next week has plenty scheduled that is expected to influence mortgage rates, some of it more than others. The week starts off light and gets more active as it progresses, leading up to the release of two major economic reports the latter days.

We also have several Fed speaking engagements to watch that may come into play. Throw in the first Presidential debate of the election and we have the makings for a very interesting week.

Look for details on all of next week’s activities in Sunday evening’s weekly preview.  

Visit our Daily Commentary page on our site for detailed explanations on current mortgage rate relevant news.

CLICK HERE to view full detailed report and recommendations

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 opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

 ©Mortgage Commentary 2020

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