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MARKET COMMENTARY

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

Jun 18, 2018

Last week saw mortgage rates fall.  There was some intraday volatility around the Wednesday FOMC announcement, as mortgages briefly sold off, but they quickly returned to near their previous levels.  Later in the week mortgages rallied as the U.S. and China exchanged trade threats. 

The highlights of the week are Monday, the Fed's Dudley and Williams are both due to speak while data-wise in the U.S. the NAHB housing market index reading is due for June.  Tuesday, we receive U.S. housing starts and building permits for May.  Wednesday, June, and May, existing home sales in the U.S. will be released.  Thursday, we will see weekly initial jobless claims, June Philly Fed business outlook, May leading index and April FHFA House Price Index readings in the U.S.  Also, the Fed's 2018 bank stress test results will be released. On Friday, the big data highlight is the release of the flash June PMIs around the world.

Economic Calendar for the week of 06/18/2018 to 06/22/2018:

Monday: NAHB Housing Market Index

Tuesday:  Housing Starts and Building Permits

Wednesday: MBA Mortgage Applications and Existing Home sales

Thursday: Initial Jobless Claims, Continuing Claims, Philadelphia Fed Business Outlook, FHFA House Price Index, Bloomberg Consumer Comfort Index, and Leading Index

Friday: Markit US Manufacturing PMI, Markit US Services PMI, and Markit US Composite PMI

Past Commentaries

Jun 18, 2018

Last week saw mortgage rates fall. There was some intraday volatility...
Full Story

Jun 11, 2018

Last week saw mortgage rates rise as the yield on 10yr U.S. Treasuries...
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Jun 04, 2018

Mortgage rates continued to climb higher...
Full Story

May 29, 2018

Last week was a slightly abbreviated trading week with markets closing early on Friday...
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May 21, 2018

Last week saw mortgage rates rise as the yield on 10yr U.S. Treasuries broke through 3.00%...
Full Story

May 14, 2018

Last week saw little movement in mortgage rates. Bonds and mortgages traded...
Full Story

May 07, 2018

Last week saw mortgage rates trend lower on a 10yr Treasury decline...
Full Story
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