Mortgage Rates June 8, 2017

It’s “Comey Day” and all eyes are on Washington.  Mortgage rates for June 8, 2017 are starting off the day a bit weaker.  Some are saying it’s due to the market thinking there will be no bombshells in his testimony; others argue it has to do with the strong positive move down over the last week and now the markets are just taking a breather.  Anyway we’ll be keeping an eye on things throughout the day and if there are any significant reactions to his testimony we’ll certainly update the post.

mortgage interest rateThis morning we received the jobless claims reading which came in at 245,000 claims filed which is a bit higher than expected.  Continued jobless claims came in a bit lower than expected at 1,917,000.00.  No other major data readings for the day.  The other “big” event is the British elections.  The markets may move on a surprise victory by Corbyn but I think the bigger item for the day will be the Comey testimony.

We also have some updates from Reuters about the ECB:

RTRS – ECB EXPECTS 2017 INFLATION AT 1.5 PCT VS 1.7 IN MARCH

RTRS – ECB EXPECTS 2018 INFLATION AT 1.3 PCT VS 1.6 PCT IN MARCH

RTRS – ECB EXPECTS 2019 INFLATION AT 1.6 PCT VS 1.7 IN MARCH

RTRS – DRAGHI SAYS TAPERING WAS NOT DISCUSSED

RTRS – DRAGHI SAYS THE ECB WILL BE IN THE MARKET FOR A LONG TIME

If you are looking to refinance your current mortgage or you’re thinking of buying a new home; please be sure to contact us directly at 1-800-550-5538.  We offer a no cost-no obligation quote, we have a top rating with the Better Business Bureau, a top rating with the Business Consumers Alliance and offer industry low mortgage rates.

Update: So about “Comey Day”; as far as mortgage rates are concerned a non-event.  Still waiting on the British elections.