The Veridian Blog

Home Sales data and the GDP report will headline this holiday-shortened week but there are also potential market moving reports due out during the first three days.  Volatility will be high but we do not expect rates to budge much from the new lows they hit last week. 

This morning, a better-than-average auction of 2-year Treasuries has helped the bond market to recover earlier losses sustained as a result of strength in stocks and higher-than-expected Existing Home Sales for October.  The benchmark 10-year note currently stands at 3.40%.

Mortgage rates continue to match or set new record lows.  The traditional conforming 5/1 ARM is at an eye-popping rate of 3.50% for zero points (with fees) or 3.75% for no point or fees!  Other restrictions apply.  Call us for more details!