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Friday, June 18, 2021
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Desmond Elder
Mortgage Advisor
CA Bureau of Real Estate #01350508
NMLS# 29360

 

Supervising Broker Pacific Bay Lending
CA Bureau of Real Estate #01874818
NMLS #318011

 

711 Grand Avenue, Suite 265
San Rafael, CA 94901
530.582.4238

 

Desmond@PacBayLend.com

 

tahoe truckee sacramento mortgage loan

 

www.NMLSconsumeraccess.org

 

Desmond Elder
Mortgage Advisor
CA Bureau of Real Estate #01350508
NMLS# 29360

 

Supervising Broker Pacific Bay Lending
CA Bureau of Real Estate #01874818
NMLS #318011

 

711 Grand Avenue, Suite 265
San Rafael, CA 94901
530.582.4238

 

Desmond@PacBayLend.com

 

tahoe truckee sacramento mortgage loan

 

www.NMLSconsumeraccess.org

   

Market Commentary

 
Updated on June 18, 2021 10:02:20 AM EDT

There is no relevant economic data being posted today. It is Quadruple Witching day for the stock markets, where four different types of stock options and futures expire simultaneously. It is common to see stock volatility on days this happens. Under normal circumstances, stock volatility can influence bond trading and, to some degree, mortgage pricing. However, there seems to be a disconnect right now between the traditional pattern of good days for stocks are bad days for bonds and vice versa. We are currently seeing stocks move in the same direction as bonds more often than opposite, meaning today’s Quadruple Witching may not influence bond trading or mortgage rates like it has in the past.

If wondering, the new Juneteenth Federal holiday designation will not affect the markets this year. The stock and bond markets are open for regular trading today. It is likely to be a bond market holiday in coming years, where we will have at least an early close in recognition of it, if not a full day closure. At this time, it is unknown how the stock markets will treat the holiday in the future. It will not come into play this year though.

Next week brings us a good number of economic reports that may affect mortgage rates, but only one of them is considered to be highly important. In addition to the data are a couple of Treasury auctions and a mandatory congressional appearance by Fed Chairman Powell as part of the Coronavirus Aid package. There is nothing scheduled for Monday. Look for details on all of next week’s activities in Sunday evening’s weekly preview.

 ©Mortgage Commentary 2021

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