Well, after telling you last Thursday that everything was quiet as a church mouse, the treasury auction that took place later in the day had a terrible outcome for the bond market. Foreign investors showed their displeasure with anticipated returns by our US bonds and drove prices down, resulting in higher rates. As of today, most of our mortgage programs are up 1/8% across the board.
But this Wednesday is a special day! My daughter turns 10. While her and Mom are planning on doing some shopping after school, I will be diligently watching the RETAIL SALES report that will be coming out. If retail sales shows weakness we could see rates fall.
I will be sure to let you know. By the way, the broadcast voicemail will also be tested this week.
-Jon
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