While rates have come down in the past month, mortgage rates this week may affected by multiple bond auctions that are taking place, any of which can sway the market dependent on their volume.  For this reason, the market will be moving forward with less certainty, which makes this week a great week to lock in rates to insure you benefit from downward movement of late.

As we head into a holiday weekend with Memorial Day Weekend approaching, many market participants will be leaving early on Friday, which all but insures weak trading volume which can cause erratic movement in bonds up or down.

Market Calendar for the Week of 5/23/2011

  • Monday: 6 month bill auction
  • Tuesday : New Home Sales, Rosengren, Hoenig, Bullard and Plosser from the Fed speak
  • Wednesday : 5 Year Note Auction, Durable Goods, FHFA Home Price Index
  • Thursday :  Jobless Claims, GDP, Money Supply
  • Friday : Personal Income and Outlays, Consumer Sentiment, Pending Home Sales Index

Simplifying GFE and TIL Disclosures:

It’s easy to become confused when getting a new mortgage due to the volume of paperwork involved. Adding to this confusion are a number of recent government regulations that have been implemented that are increasing confusion when their intent is the opposite. According to Elizabeth Warren, Special Adviser to the Secretary of the Treasury for the Consumer Financial Protection Bureau:

“A simple, straightforward and consistent presentation of a credit agreement is the best way to level the playing field between consumers and lenders – and among different types of lenders – and foster honest competition.”

To help create an easier to understand experience for consumers, the Consumer Financial Protection Bureau (CFPB) has created a website where you can give feedback. Simply view their site and follow the instructions to help give them feedback on your preferences.