There isn’t a lot of economic activity occurring this week. However, interesting to note that most analysts are expecting that Existing Home Sales picked up in Sept – that report is out on Friday morning. If the consensus is correct, existing home sales will have reached a 2-year high. Good news. Also, note that the stock market closed at its highest since October 3, 2008. The pressure on rates this week will be based on the stock market. If the stock market continues to rise, expect rates to as well. Remember, if your borrowers lock with us and the rates drop, we can re-negotiate their rate to a lower one (with certain parameters followed).
Ginger Sullivan, Anasazi Mortgage