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Bond Market Update

Market Update

Wednesday, February 21, 2018

What's going on and why does it matter?

Mortgage bonds are hovering near their 10-day moving average, which has been operating as a stiff ceiling of technical resistance since early January. It will be interesting to see if bonds can break above that level or if they'll get turned down again. The big news for today will be this afternoon’s minutes from the January 30-31 Federal Reserve meeting. Although investors are already expecting another rate hike next month, they'll be combing through the Fed's minutes this afternoon to determine if future rate hikes will be more aggressive in light of recent economic developments. The Fed is scheduled to purchase up to $1.015 billion of 30-year conventional mortgage bonds today.

What should you do about it?
Lock your rate to be safe.


Economic Calendar

Economic reports that may impact mortgage rates this week:

Date Report Period Prior Est. Actual
Wed 21 Feb Existing Home Sales Jan 5.57M 5.6M  5.3M
Wed 21 Feb Fed Minutes Jan - -  -
Thu 22 Feb Initial Jobless Claims Week of Feb 12 230k 230k  

Jennifer Du Plessis CMPS CDLP CME

Jennifer Du Plessis CMPS CDLP CME
NMLS Number: 192843
Apex Home Loans, Inc
Corporate NMLS: 2884
jend@apexhomeloans.com
http://www.KirneyTeam.com
(703) 639-6803
45610 Woodland Road, Suite 140
Sterling, Virginia 20166

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Apex Home Loans, Inc. NMLS #2884. For more information, please reference the NMLS Consumer Access Website at http://nmlsconsumeraccess.org. Licensed by: DE as a Lender by the Office of the State Bank Commissioner (011603); DC as a Dual Authority Mortgage Lender by the Department of Insurance, Securities and Banking (MLB2884); FL as a Mortgage Lender by the FL Office of Financial Regulation (MLD1088); MD as a Mortgage Lender by the Dept. of Labor, Licensing & Regulation (06-4989); N.J. Department of Banking and Insurance (2884); PA as a Mortgage Lender by the Dept. of Banking & Securities (45078); VA as a Lender and Broker by the State Bank Commissioner (MC1278); and WV as a Mortgage Lender by the WV Division of Financial Institutions (ML-34657).<br/><br/>Apex Home Loans, Inc. NMLS #2884. For more information, please reference the NMLS Consumer Access Website at http://nmlsconsumeraccess.org. Licensed by: DE as a Lender by the Office of the State Bank Commissioner (011603); DC as a Dual Authority Mortgage Lender by the Department of Insurance, Securities and Banking (MLB2884); FL as a Mortgage Lender by the FL Office of Financial Regulation (MLD1088); MD as a Mortgage Lender by the Dept. of Labor, Licensing & Regulation (06-4989); N.J. Department of Banking and Insurance (2884); PA as a Mortgage Lender by the Dept. of Banking & Securities (45078); VA as a Lender and Broker by the State Bank Commissioner (MC1278); and WV as a Mortgage Lender by the WV Division of Financial Institutions (ML-34657).