Markets Are Moving

After yesterday’s wild ride triggered by the low ISM manufacturing report, markets are continuing the move in their respective directions. The Dow closed down over 300 points yesterday and is currently down over 500 points at this time. The 10-year treasury fought to stay in its range, but today seems to have broken down to 1.589 and may be heading to the previous 1.45 range. Mortgage bonds performed generally the same yesterday with a strong move initially, but then pulling back and closing just slightly positive.


Today’s follow through indicates that investors are certainly concerned about a growing list of catalysts such as the latest disappointing economic data, endless political bantering, tariffs, global economic slowdown, etc. The servicing sector reports tomorrow with ISM, and if it falls short that might just add more fuel to the fire. The monthly NFP jobs report is this Friday also, so there will be no shortage of volatility for the rest of this week.


Most the financial indexes have been in a relatively tight range for the last two weeks. This can build up pressure resulting in a strong move once the pressure forces a move either way.  Stocks look like they are heading to test the August lows, and the 10-year treasury looks to be doing the same.  We can maintain a cautious floating status for those that are a bit more risk tolerant, while the safe play is to take the gains and lock.

Get your custom rate quote in 30 seconds

See your customized rate and fee options without sharing any personal information

See Purchase Rates See Refi Rates

Additional Articles