Expect the bond yields to rise again this week which will result in higher mortgage rates to the borrowers." Lock Advice. Recommend locking in a rate now if you are purchasing or refinancing. There is little chance of a significant breakout in the bond market that would lead to any rate improvement worth risking a more probable rate increase.
The staff did make modest downward adjustments to its projections for real GDP growth in response. AFTER stocks fall a bit, bonds start to relax. then boom. breakout.. BUT for now, bonds are.
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Millennial veterans and military members are helping fuel the resurgence of the historic VA loan program. Last year’s 700,000-plus loans were more than double the agency’s total from five years ago. Younger buyers in particular have flocked to these government-backed mortgages during a time of tight credit and flatlining wage growth.
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With the economy on a steady keel, buyers remain confident. “The unemployment rate is at its lowest level in 50 years resulting in faster wage growth and more confident homebuyers,” MBA Chief Economist Mike Fratantoni said at the MBA’s October 2018 Annual Convention and Expo in Washington, D.C.