What's going on
and why does it matter?
Today is
the biggest day of the week in terms of economic reports.
Mortgage bonds seem to be drifting sideways as they continue to trade
in a range between their 30-day and 100-day moving averages. So far, we've had
new construction numbers which came in slightly weaker than market
expectations.
There are also a few manufacturing reports scheduled
for release later this morning. The Fed is scheduled to purchase up
to $1.625 billion of 30-year conventional mortgage bonds later this
afternoon.
What should you do
about it?
Watch for mortgage bonds to improve from these levels, but be prepared
to lock your rate if the market changes directions.
.....
Economic
reports that may impact mortgage rates this week:
|
Date
|
Report
|
Period
|
Prior
|
Estimate
|
Actual
|
|
Mon
15 May
|
NY Fed
Mfg. Index
|
May
|
5.2
|
7.0
|
-1.0
|
|
Tue
16 May
|
Building
Permits
|
Apr
|
1.26M
|
1.27M
|
1.23M
|
|
Tue
16 May
|
Housing
Starts
|
Apr
|
1.20M
|
1.26M
|
1.17M
|
|
Tue
16 May
|
Industrial
Production
|
Apr
|
0.5%
|
0.3%
|
|
|
Tue
16 May
|
Capacity
Utilization
|
Apr
|
76.1%
|
76.3%
|
|
|
Tue
16 May
|
Mfg. Output
|
Apr
|
-0.4%
|
0.3%
|
|
|
Thu
18 May
|
Initial Jobless
Claims
|
Week of
May 8
|
236,000
|
240,000
|
|
|
No comments:
Post a Comment