Interest rates are unchanged from yesterday as the market gave a big yawn to the Fed’s decision not to raise rates (They’re not bored, it’s what they expected).
Important economic news tomorrow that could move the market. A basic of understanding how mortgage rates are determined: If the economic data is good (i.e. less unemployment, increased consumer confidence) the stock market will improve and interest rates will get worse. The converse is also true, if unemployment comes in higher than expected it will negatively impact the stock market and rates will generally improve.
Jobs report on Fridays. If unemployment claims come in as expected, little change in interest rates. If claims are lower rates will go up.
The risk is yours! There is one “self-evident” truth about interest rates. They will only do one of three things: Go Up, Go Down, Stay the Same. In only one of three chances can you get better than today.
It’s your money how much of a gambler are you?
