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MARKET COMMENTARY

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

Market Commentary

Last week’s headlines continued to be dominated by the ongoing trade war between the U.S. and China.  Equities continued to slide somewhat while the yield on the 10yr fell to 2.320% with some analysts predicting even lower yields to come.

The housing market will be the focus today with the FHFA and S&P Corelogic house price indices for March due for release. The Conference Board’s latest consumer confidence survey for May is also due today.  Thursday’s GDP data will be the week’s biggest watched piece of data.

Economic Calendar for the week of 05/27/2019 to 05/31/2019:

Monday: N/A
Tuesday: FHFA House Price Index, S&P CoreLogic CS 20-City, Conference Board Consumer Confidence and Dallas Fed Manufacturing Activity
Wednesday: MBA Mortgage Applications and Richmond Fed Manufacturing Index
Thursday: GDP Annualized QoQ, GDP Price Index, Initial Jobless Claims, Continuing Claims, Retail Inventories, Wholesale Inventories, Bloomberg Consumer Comfort Index, and Pending Home Sales
Friday: Personal Income, Personal Spending, PCE Deflator, and University of Michigan Sentiment

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