Mortgage rates remain well below last year’s long-term highs, but elevated in general.  The home resale market continues to protest, as seen in February’s Pending Home Sales data, released this week. One way to interpret the chart’s  is that that “there’s nowhere to go but up.”  The catch is that there’s no guaranteed time frame or pace.

To whatever extent this week Loan Rates were subdued, next week has the potential to bring more life to party.  It remains to be seen if this partygoer ends up being the kind that takes things to the next level or the kind you wish would go home early.

The potential energy is due to the slate of economic reports.  These days, there are really only two weeks that matter on any given month: the one with the jobs report and the one with the Consumer Price Index (CPI).

Next Friday brings the latest installment of the jobs report.  Other data on jobs week is also capable of causing volatility for the market and that starts on Monday with ISM’s manufacturing index.  Even if the data sends a cohesive message, the market will hold something back until it sees how CPI turns out on April 10th.

Early April may be a good time to lock!  Phone us to learn more. Dan Cassel 866-310-1112.