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MARKET COMMENTARY

A weekly look at where mortgage interest rates are headed. A weekly Economic Calendar is also included.

Oct 16, 2017

Last week the main event was Friday’s lower than expected CPI data. This naturally sparked some speculation that the Fed may not raise rates this year, however, over the weekend at the annual IMF meeting, Fed Chair Janet Yellen “My best guess is that these soft readings (inflation) will not persist” and that, “with the ongoing strengthening of labor markets, I expect inflation to move higher next year.”

This week the big items of interest will likely be domestic political developments and overseas political developments rather than economic data. In the US optimism and pricing of a tax reform deal has again begun to fade but there remains the possibility of something getting done.  Overseas, UK Prime Minister Theresa May is expected to travel to Brussels and meet with EC Commission President Junker and Chief Brexit negotiator Barnier for Brexit talks today. Also, today Spain and Catalonia will be back in the spotlight with Catalan President Puigdemont due to face a deadline to clarify to the Spanish Government Catalonia’s position on independence.  Midweek China will likely be front and center with the 19th Communist Party Conference kicking off (Wed), while Q3 GDP and activity data (Thurs). 

Economic Calendar for the week of 10/16/2017 to 10/20/2017:

Monday: Empire Manufacturing and Monthly Budget Statement

Tuesday: Import Price Index, Industrial Production, Capacity Utilization and NAHB Housing Market Index

Wednesday: MBA Mortgage Applications, Housing Starts Building Permits and U.S. Federal Reserve Beige Book

Thursday: Initial Jobless Claims, Continuing Claims, Bloomberg Consumer Comfort Index and Leading Index

Friday: Existing Home Sales

Past Commentaries

Oct 16, 2017

Last week the main event was Friday’s lower than expected CPI data...
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Oct 10, 2017

Mortgage rates increased slightly last week, as equities continue...
Full Story

Oct 02, 2017

Last week mortgage rates rose steadily throughout the week...
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Sep 25, 2017

Mortgage rates remained relatively unchanged week over week...
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Sep 18, 2017

Last week mortgage rates rose steadily throughout the week...
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Sep 11, 2017

Mortgage rates improved last week as the threats of hurricanes...
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Sep 05, 2017

Last week mortgage rates remained relatively stable. The week ended...
Full Story
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