Mortgage Update May 31 2018

“Mortgage Bonds are near unchanged despite tame consumer inflation data hitting the wires. In housing news, April Pending Homes Sales declined from March due in part to low inventories of homes for sale on the market.
Freddie Mac reports that mortgage rates declined in the latest week after rising for most of 2018. Ahead of the big headline risk in the May Jobs Report which is scheduled for release tomorrow, I am recommending locking. For brand new files that are at least a month away, we can try and float, but I will be on guard.”

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