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As a show of continued strength for bonds, mortgage bonds bounced a little higher after dropping to the bottom channel. This is good news for rates, but only slightly. Next week will be slow for scheduled economic reports, so markets will trade heavily based on the technical outlook. Therefore, unless something happens to drive bond prices higher, pricing will remain relatively stable.

One key unknown will be the market’s reaction when Robert Mueller releases his findings surrounding the Trump campaign and Russia. If there is strong proof that ties President Trump to crimes, the market may expect democrats to move towards impeachment. That would not be good for the stock market and would likely benefit mortgage bonds. However, if there is no “smoking gun” to tie President Trump to crimes, then stocks could continue to gain steam. One key thing to consider is that stocks are due for a drop. Could this all come together at the same time? We’ll see. In the meantime, in the absence of a Muller report or other big bombshells, most believe that bonds will climb higher in the long term, which is good news for those who hold mortgage loans at higher rates.

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The Altitude Group

Matt Thomas

REALTOR® | MCNE

303-269-1617

Matt@AltitudeRealEstateGroup.com

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Chad Schneider

REALTOR® | CNE

720-767-2423 (CHAD)

Chad@AltitudeRealEstateGroup.com