This morning, mortgage rates are expected to be similar to—or slightly better than—Friday’s levels 
.
Over the weekend, headlines picked up again after the U.S. announced a blockade of Iranian ports in the Strait of Hormuz following failed negotiations. Oil prices moved higher on the news 
, but notably, mortgage markets have not reacted as strongly as they have in recent weeks.
In fact, after opening weaker overnight, markets recovered quickly this morning and are now holding steady to slightly improved.
Right now, mortgage rates are being driven primarily by global developments, but we are seeing signs that markets are becoming less reactive to oil prices alone.
Here’s what to watch this week:
Monday: No major economic data—markets focused on global headlines
Tuesday: PPI (inflation data) + manufacturing reports
Wednesday–Friday: Ongoing Fed speaker commentary 
Housing Data: Existing home sales updates
Markets: Start of earnings season (banking sector focus)
Bottom line: Rates are holding steady to slightly improved, but markets remain headline-driven—especially with ongoing developments in the Middle East.
Let me know if you want a scenario run for anyone!
Marcia Gonzales
Evergreen Home Loans
NMLS 716324