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

Market Commentary

Yields rose last week with the 30yr US Treasury hitting a four-year high. The strong jobs report on Friday added to the sentiment of a strong economy leading to more money exiting the safety of fixed income.

This week it is expected that the FOMC will leave rates unchanged, making a December hike likely.

Outside of the FOMC decision, the focus will remain on Treasury auctions and economic data releases. Today, we have October ISM Services and the results of the 37bil 3yr Treasury auction. Tuesday there’s September JOLTS and a $27 billion 10yr Treasury auction. Wednesday, MBA Applications. Thursday we’ve got initial Claims and the November FOMC rate decision. We close out the week on Friday with Producer Price Index and Preliminary November Michigan Sentiment Index.

Economic Calendar for the week of 11/05/2018 to 11/09/2018:
Monday: October ISM Services
Tuesday: September JOLTS
Wednesday: MBA applications
Thursday: Initial Claims and the November FOMC rate decision
Friday: Producer Price Index and Preliminary November Michigan Sentiment Index
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