What's going on and why does it matter?
Mortgage bonds opened this week in positive territory and they are trading above all their major moving averages. Mortgage pricing should remain favorable as long as bonds continue to trade at or above these levels. The economic calendar this week includes some important economic reports, most notably the core PCE inflation numbers. Core PCE is the Fed's favorite measurement of inflation. Also of importance to the bond market this week, is whether the Senate's health care bill advances. The Fed is scheduled to purchase up to $1.35 billion of 30-year conventional mortgage bonds today.
What should you do about it?
What should you do about it?
Watch for mortgage bond prices to continue higher, but be prepared to lock your rate quickly if bond prices start heading south.
Economic reports that may impact mortgage rates this week:| Date | Report | Period | Prior | Estimate | Actual |
| Mon 26 Jun | Durable Goods | May | -0.9% | -0.6% | -1.1% |
| Tue 27 Jun | Consumer Confidence | Jun | 117.9 | 116.0 | |
| Wed 28 Jun | Pending Home Sales | May | -1.3% | 0.8% | |
| Thu 29 Jun | GDP final est. | Q1 2017 | 2.1% | 1.2% | |
| Thu 29 Jun | Core PCE Prices | Q1 2017 | 1.3% | 2.1% | |
| Thu 29 Jun | Initial Jobless Claims | Week of June 19 | 241,000 | 240,000 | |
| Fri 30 Jun | Personal Income | May | 0.4% | 0.3% | |
| Fri 30 Jun | Core PCE Price Index | May | 0.2% | 0.1% | |
| Fri 30 Jun | Chicago PMI | June | 59.4 | 58.0 | |
| Fri 30 Jun | U of Mich. Consumer Sentiment | Jun | 97.1 | 94.5 |
No comments:
Post a Comment