Mortgage Rates This Week



This Week; the 10 yr note ended last week at 1.85%, the lowest in the recent decline. This week has a load of housing data; Nov starts and permits, Nov existing and new home sales, and a couple of housing price4 reports. The final look at Q3 GDP, Nov durable goods orders, Nov personal income and spending and of course weekly jobless claims. Claims declined 19K last week to 366K, this week the early take is for an increase of 14K. Most of the data this week is important, even the sales of homes although there is no reason to expect much improvement.

Also this week Treasury will auction $99B of 2 yr, 5 yr and 7 yr notes beginning Monday through Wednesday. Add in the holidays coming on and Europe’s continual fumbling, the markets may present volatility with many traders and investors closing down for the year. Last week the 10 yr note yield fell 25 basis points on continuing safe haven moves against Europe’s mess; mortgages are following but way behind, the move to lower interest rates is mostly confined to the Treasury markets.