Market Commentary 8/20/21

Friday’s mortgage rates should be nearly unchanged from Thursday’s early pricing. The bond market is currently down 2/32 (1.25%).

Stocks look to close out the week with gains, pushing the Dow higher by 121 points and the Nasdaq up 99 points. 

We don’t have much to watch today in terms of potential influence on rates. The early stock gains may be putting a little pressure on bonds, but unless they make a significant move higher or lower, mortgage rates will likely hold steady through the afternoon.

Next week will be a fairly busy week with at least one economic release scheduled each day.

They start with the moderately important home resales report for July late Monday morning. 

There are a couple of economic releases that carry an elevated level of significance in addition to two Treasury auctions and the annual Fed’s central banker’s Jackson Hole symposium late in the week. 

Look for details on all of next week’s activities in Sunday evening’s weekly preview. 

Visit our Daily Commentary page on our site for detailed explanations on current news that is relevant to mortgage rates.

This Market Report courtesy of Jasmine Rassekh at Mortgage Capital Partners

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