As I write this post at the end of another beautiful weekend where we experienced 70 and 80 degree weather, it makes me grateful that I am a mortgage broker in San Diego. I wish the rest of my fellow San Diegans a wonderful President’s Day Holiday.
You can see in the chart at the bottom of the page, Bonds and San Diego home loan rates have been impacted by the rally in Stocks. However, San Diego mortgage rates remain slightly above record lows.
The financial markets are closed Monday in observance of Presidents’ Day, but there are several important reports later in the week.
- Housing news will be reported, with Housing Starts and Building Permits on Wednesday and Existing Home Sales on Thursday.
- There will be two reports on inflation with Wednesday’s wholesale-measuring Producer Price Index, followed by Thursday’s Consumer Price Index.
- Also on Thursday, Initial Jobless Claims and the Philadelphia Fed Index will be reported.
If that is not enough, the minutes from the January meeting of the Federal Open Market Committee will be available on Wednesday at 2:00pm ET. The Fed governors have been giving differing opinions on the continuance of their Quantitative Easing, so this has the potential to move the markets.
If you are considering buying or refinancing a home in San Diego, now may be the time to act before rates rise. I am happy to help you! I have been originating San Diego Home Loans since 2002. At The Mortgage Planners, we offer conventional, including the San Diego HARP 2.0 program, Jumbos, FHA, and San Diego VA Loans. Click here for your personal mortgage quote.