Waiting for Mortgage Rates in Flagstaff to improve?

Today was good and bad news for home loan rates.  Initial Jobless Claims were reported at 308,000 which was below expectations of 315,000.  The data suggests the labor market continues to be resilient and this is weighing on the Bond prices this morning.

The Balance of Trade for August showed the narrowest deficit since last January.  Good news for inflation, as the bond market is especially sensitive to inflation risks from imports because of the weak dollar.  This supports the expectation that the Fed will not move to cut rates any time soon due to the possibility of rising inflation. 

For now I would suggest waiting to lock if you can.  Lots of market moving data coming out in the next week.  Lets see if rates drop down a little by midweek next week.