Good morning,
We are starting another week with the government still shut down. So far, we haven't seen major delays with FHA or VA loans, but if this continues, it could begin to impact processing times.
The bond market is in a bit of limbo without key economic reports that traders rely on for direction. However, this week we'll get CPI (Wednesday) and PPI (Thursday). Both are critical inflation updates that could move mortgage rates.
Tariff talk also returned last week, shaking up the stock and crypto markets. Interestingly, that volatility helped the bond market rally slightly on Friday, but we'll have to see if it holds as markets reopen tomorrow.
Pricing has stayed pretty steady over the past few weeks with rates being right at the same levels to start this week as they were last week. FHA/VA are staying right around the 6% mark at par (no discount points) with Conventional coming in closer to the mid 6's.
The national average for a 30-year fixed conventional is sitting at 6.32% according to Mortgage News Now. (Keep in mind, this assumes 25% down, perfect credit, single-family home, and one-point buydown.)
“You can’t control the market, but you can control your response to it.”
— Morgan Housel
Mortgages by Marlow
670 S. Green Valley Pkwy, Suite 200, Henderson, NV 89052
702-755-3983