Moorpark Rate Advisory, Home Loans
By Paul Lefton, Simi Valley Home Loans
(Core Financial Soultions, Inc)
Tuesday's bond market has opened fairly flat as investors wait for this week's little economic news. The stock markets are showing gains after yesterday's rebound from early losses to close in positive territory. The Dow is currently up 49 points while the Nasdaq has gained 20 points. The bond market is currently down 2/32, which will likely keep this morning' s mortgage rates at yesterday's levels.There is no relevant economic news scheduled for release today. The first report is September's Existing Home Sales late tomorrow morning. This report gives us an indication of housing sector strength and mortgage credit demand. It is expected to show another decline in home resales, meaning the housing sector continues to weaken. This would generally be good news for bonds, but this data is ...
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