The Veridian Blog

Even though last week was shortened by the Thanksgiving holiday, there were signs that the bond markets and hence mortgage rates are appearing jumpy and may be poised for a nosedive sometime this week.  Global equity markets were hit hard while we took time out to prepare our sumptuous feasts and Friday was indicative of a reactionary sell-off in stocks.  Trading was light, however, so it remains to be seen this week how markets will follow through.  Many mortgage products continue to flirt or have surpassed all time lows – it is nearly comical how low these rates are falling as the benchmark 10-year note hit 3.20% last week.  This upcoming week will culminate in November’s Employment report.  Current forecasts call for no change in the unemployment rate of 10.2% with payrolls down 114,000.