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No one is certain when the bottom will hit.  In some areas of the country they may already be there.  With the economy in the doldrums and no end in site for lower gas prices, when is a good time to buy?  Stay tuned

Monday's bond market has opened in negative territory despite early stock losses that are resulting from oil concerns. The Dow is currently down 42 points while the Nasdaq has fallen 5 points. The bond market is currently down 6/32, but we will likely see a slight improvement to this morning's mortgage rates due to strength in bonds late Friday.

There is no relevant economic data scheduled for release today, but the rest of the week brings us five reports for the bond market to digest. The first is June's Trade Balance report tomorrow morning that gives us the size of the U.S. trade deficit. It is the week's least important report and likely will have little impact on the bond market and mortgage rates. Analysts are expecting to see a $61.9 billion deficit, but it will take a wide variance to directly influence mortgage pricing.

Mark Betteker

Betteker Mortgage & Realty Services