Market Commentary

Updated on August 19, 2019 10:22:26 AM EDT

There is nothing of importance scheduled for today or tomorrow. The rest of the week brings us the release of only three pieces of economic data that may influence mortgage rates in addition to the minutes from the last FOMC meeting and the annual Jackson Hole Fed conference. Until we get to the little data that is on the calendar, expect stocks to have a heavy influence on bond trading and mortgage rates.

Overall, Wednesday or Friday are the best candidates for most active day for rates while tomorrow could be the calmest day unless something unexpected happens. We will get the week's most important report Wednesday, albeit not a highly important release, along with the minutes from last month's FOMC meeting. Friday morning has Fed Chairman Powell's speech at the Jackson Hole Fed conference. However, any day can become volatile with news from any of the hot topic issues currently driving the markets. Therefore, please proceed cautiously if still floating an interest rate and closing in the near future.

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