Brett Burns - Frame Home Loans

Here is this week's market recap, starting with closing prices of the 10 Yr Note:

Monday - 4.182%
Tuesday - 4.204%
Wednesday - 4.242%
Thursday - 4.20%
Friday - 4.232%

It's been a tough last three weeks for mortgage rates leading up to the election. The 10 yr note closed at 3.696% on Oct 1st and is now up to 4.323%.

Much of the driving factor has been anticipation around who will when the election and what economic impact this will have, as well as what with the FED's do at the next meeting Nov 7th.

A month ago many in the market believed the FED's would be lowering rates another .50% at the Nov meeting. Since, the market has move to a belief that the reduction may be only .25%, and then moved to a belief that there may not be a reduction at all.

All in all lots of speculation and conservative trading leading up to the the election and FED meeting this first week of Nov.

Next week brings inflation reports and a whole bunch more data.

Expect continued volatility up until the second week of Nov. Hopefully markets will level out some throughout the reminder of Nov.