Though this week is a busy one for economic reports only a few can and might move the market. But remember, other global news can spook the market.

Tuesday besides the FOMC meeting, we will get the Consumer Confidence Index. This is moderate to high importance report. It indicates how confident the consumer is in their own financial situation, whether they will be making any big ticket item purchases, and the economy as a whole.

Friday will see four economic reports being released but the most important one will be the Gross Domestic Product for the 4th Quarter of 2010. This is important as it tells us if the economy has been recovering and growing. A weaker report will be good for the bond market and therefore mortgage interest rates. A good report which is stronger than the expected 3.8% growth will have the exact opposite effect on the bond market and therefore mortgage interest rates.  

The other report on Friday that can affect mortgage interest rates will be the 4th Quarter Employment Cost Index. That measures employers cost of employees’ wages and benefits. A good report can indicate inflation which is bad for the bond market.

And on top of these important reports, the Treasury will be auctioning off 5-year and 7-year Treasury Notes respectively on Wednesday and Thursday. If these are well received then we can see a raise in mortgage interest rates in the afternoon on both days. If not, then lower interest rates.

In this week’s MMG Weekly Reportis an article on the new “driving” rules set forth by the IRS as well as more indepth information about last week and the economic reports that will be released this week.

As always, please feel free to contact me with your questions or concerns whether it be about your particular mortgage financial situation or more information about how the bond market affects mortgage interest rates.

To an inspired day and week,

Betsy Moore
Mortgage Advisor
MLO# 118165
206-331-2749

The most important news for this week will be Bernanke and Company’s schedule meeting on Tuesday. It will be an one day meeting ending with their press release at 2pm EST. Traders will be again checking each word in the statement to gleam which way the economy is going and when the FOMC will increase their Fed Fund Rate.

The rest of the week will be followed by Housing News both Housing Starts, Building Permits, New and Existing Home Sales. Housing is an important part of our economy as is jobs. Thursday brings the weekly Initial Jobless Claims. Last week, we saw an improvement on claims. Ending the week is Durable Goods which tells us about manufacturing and this report can move the market even though it tends to not always be correct and needs revisions after the fact.

In this week’s Weekly MMG, there is an article about how to handle “When Your Child’s School Asks to Give, Give, Give” as well as more depth information about last week and this week’s economic reports.

As always, I’ll be following these and more so that I am up on the news that affects mortgage interest rates.

You can also check out the Daily Rate Lock Advisory each day. This report normally comes out around 10am. 

I also will report daily on twitter @mmtgsolutions on the mortgage interest rates and what to expect for the day. If one of these reports moves the market in a significant manner, I’ll write about it here.

Please remember, I welcome your comments to this and my other posts.

To an  inspiring week,

Betsy Moore

On Thursday, we will have the weekly Initial Jobless Claims Report. Instead of growing jobs, we are still losing jobs though thankfully not at the rate we were before. But with the stimulus money not having a great affect on the job’s market and with state governments having budget shortfalls, we may see more layoffs soon instead of job gains.

Then on Friday, we have Retail Sales, Consumer Price Index and Core Consumer Price Index. Retails Sales is important as if we continue to save instead of consume/spend, the economy won’t recover. As consumers, we contributes to two-thirds of our economy. The two Consumer Price Index Reports shows us inflation at the consumer level.

You can read about all of this in more detail in this week’s MMG Weekly as well as an article on “How to Succeed On Webcam Interviews.”

As always, I’ll be following these and more so that I am up on the news that affects mortgage interest rates.

You can also check out the Daily Rate Lock Advisory each day. This report normally comes out around 10am. 

I also will report daily on twitter @mmtgsolutions on the mortgage interest rates and what to expect for the day. If one of these reports moves the market in a significant manner, I’ll write about it here.

Please remember, I welcome your comments to this and my other posts.

To an  inspiring week,

Betsy Moore

Though we will start the week out on Monday with New Home Sales which is expected is be up a bit which shouldn’t affect mortgage interest rates since the report only tracks about 15% of the new home sales. But if it is up more, it could affect interest rates.

Tuesday will start the bigger news in Consumer Confidence Index. This report tells us whether consumers, us, are confident about their own financial situation which translates to will we spend money on big ticket items. This report is important to the economy as consumer spending which has been tight over the last two years makes up two-thirds of our economy. In other words, if we don’t spend, the economy isn’t going to grow and we won’t pull out of the recession fully. Quite a catch-22.

Wednesday, we have Durable Goods  which gives us an indication of manufacturing strength.  The traders expect an upward tick in this report from May to June.

Thursday, we have the all important Initial Jobless Claims. Jobless Claims keep going up instead of down. And with the new extension on unemployment benefits, the outlook still isn’t looking as rosy as we would all like it to be.

And then Friday, we have Gross Domestic Products (GDP) and Consumer Sentiment Index. GDP will reflect 2nd Quarter and is the sum of what we have produced for both service and products. It indicates our economic activity and whether we had good growth during that time. This report can move the market one way or the other. Consumer Sentiment Index will reveal our optimism on our own financial situation.

Besides these reports, the US  Treasury Department will be auctioning off $104 Billion in 2-year notes, 5-year notes and 7-years notes Tuesday, Wednesday and Thursday, respectively. Depending on how well these auctions do, it can affect mortgage interest rates.

You can read about all of this in this week’s MMG Weekly as well as an article from Kiplinger on “10 Things We Overpay For:You Can Save Big by Buying Cheap Alternatives Instead“.

As always, I’ll be following these and more so that I am up on the news that affects mortgage interest rates.

You can also check out the Daily Rate Lock Advisory each day. This report normally comes out around 10am. 

I also will report daily on twitter @mmtgsolutions on the mortgage interest rates and what to expect for the day. If one of these reports moves the market in a significant manner, I’ll write about it here.

Please remember, I welcome your comments to this and my other posts.

To an  inspiring week,

Betsy Moore

206-331-2749

The economic reports that will be released this week will be on Tuesday, the Housing Starts and Building Permits. This will give us an update on what is being built and going to be built. On Thursday, we will get the Initial Jobless Claims. We will welcome any positive changes in this report.

Last week, Congress passed the sweeping Financial Reform Bill. There has been much talk in our industry about this bill and the changes it will bring. The bill itself is over 2,000 pages but unfortunately doesn’t address the major causes of the financial meltdown. As financial corporations try to digest this over the next weeks and months, they will continue to hold on to their cash reserves. And as long as they hold on to the their cash and don’t invest it (lend it out), we will continue to have a very bumpy recovery.

You can read about all of this in this week’s MMG Weekly as well as an article from Kiplinger on “Tweets Can Help Your Business”.

As always, I’ll be following these and more so that I am up on the news that affects mortgage interest rates.

You can also check out the Daily Rate Lock Advisory each day. This report normally comes out around 10am. 

I also will report daily on twitter @mmtgsolutions on the mortgage interest rates and what to expect for the day. If one of these reports moves the market in a significant manner, I’ll write about it here.

Please remember, I welcome your comments to this and my other posts.

To an  inspiring week,

Betsy Moore

206-331-2749

      US Job Rate came in at a surprise. Traders expected around 500,000 but got 431,000 with the majority of them being Census Jobs (411,000) which are temporary and will end soon. About the only good news out of this Jobs Report was that average hours worked improved. The Greece and the oil situation haven’t improved and only with the start of this month.  All of this led to a stock market that dip as money flowed out of the stock market into the bond market.

      This coming week, the economic reports that can move the market will be mostly on Friday. Though this Thursday, we will see the Initial Jobless Claims.  Friday, we’ll see the Consumer Sentiment Index and Retail Sales. Both of these will show if the consumer is continuing to spend money during this rather bumpy recovery.

      In addition to these reports, the US Treasury will be auctioning off $70 Billion in Notes and Bonds Tuesday through Thursday.

      Even though mortgage interest rates have been better than normal, we don’t expect this to last long. Investors will be quick to pull the trigger to raise rates with the slightest hic-cup in the market.

       You can read about these reports and more in this week’s MMG Week in Review as well as a great article on “Six Money Mistakes of Newlyweds.”

     As always, I’ll be following these and more so that I am up on the news that affects mortgage interest rates.

      You can also check out the Daily Rate Lock Advisory each day. This report normally comes out around 10am.

      I also will report daily on twitter @mmtgsolutions on the mortgage interest rates and what to expect for the day. If one of these reports moves the market in a significant manner, I’ll write about it here.

      Please remember, I welcome your comments to this and my other posts.

To an  inspiring week,

Betsy Moore

206-331-2749

     Along with this news, we had good news from the inflation front. Consumer Price Index and Producer Price Index came in lower than expected showing that inflation is not an issue at the moment. But remember, inflation will eventually raise its ugly head.

     This, of course, helped the bond market and mortgage interest rates. And whether this will continue is any one’s guess. Friday, the stock market did rebound and did gain some of their losses back.  

     This week, we have several important economic reports being released that can move the market as well as a new round of Treasury auctions to the tune of $113 Billion of 2, 5, and 7 year bonds.

     The most important day will be on Friday which has Chicago PMI and Personal and Core Consumption for April and Year over Year. Other news that can affect the markets will be on Monday, Existing Home Sales; Tuesday, Consumer Confidence; Wednesday, New Homes Sales; Thursday, Initial Jobless Claims. And let’ s not forget, Europe.

      You can read about this and more in detail in this week’s MMG Week in Review as well as “Insuring a Smart and Safe Vacation”.

      As always, I’ll be following these and more so that I am up on the news that affects mortgage interest rates.

      You can also check out the Daily Rate Lock Advisory each day. This report normally comes out around 10am.

      I also will report daily on twitter @mmtgsolutions on the mortgage interest rates and what to expect for the day. If one of these reports moves the market in a significant manner, I’ll write about it here.

      Please remember, I welcome your comments to this and my other posts.

To an  inspiring week,

Betsy Moore

206-331-2749

      The Euro zone is still dealing with Greece’s economic woes and along the way, Spain, Italy and Portugal also are experiencing economic stability. This news had money flowing into the bond market as the European Central Bank unveiled their own TARP stimulus package to the tune of $955 Billion to help these countries. Whether this will just be a band-aid or whether these countries will right their economic houses only time will tell. Let’s hope that it is the latter.

      Also in the news last week was the growing concern over China’s possible inflation though their government has been trying to stem that tide.

      All this news affects our economic future. Though it will be cheaper to fly to Europe, our corporations that are global will feel it in their bottom line as our products will be cheaper to purchase over in Europre. And China’s exports to us will be more expensive causing inflation in our country.

      This week there will be two important inflation reports released. On Tuesday and Wednesday, we will get Producer Price Index and Consumer Price Index. Both of these can impact the bonds and home loan rates.

      Tuesday will also bring Housing Starts and Building Permits Reports. And of course, on Thursday we have Initial Jobless Claims. Those numbers are still high and even more troubling is the additional 5.13 Million Americans claiming Emergency Unemployment Compensation which can last up to 99 weeks!!

      You can read about this in detail in MMG Weekly as well as an interesting article on “Remodeling Your Bathroom: A Project Worth Investing In”.

      As always, I’ll be following these and more so that I am up on the news that affects mortgage interest rates.

      You can also check out the Daily Rate Lock Advisory each day. This report normally comes out around 10am.

      I also will report daily on twitter @mmtgsolutions on the mortgage interest rates and what to expect for the day. If one of these reports moves the market in a significant manner, I’ll write about it here.

      Please remember, I welcome your comments to this and my other posts.

To an  inspiring week,

Betsy Moore

206-331-2749

     And dont’ forget that ending this month is the 1st Time HomeBuyer Tax Credit program. Please, if you are a first time home buyer, don’t miss out on this. It is a dollar for dollar amount. You can read more about this in First Time HomeBuyer’s Tax Credit post.

     Also in the news last week was the all important Jobs Report. In March, we added 162,000 jobs with about 40,000 of them being Census Jobs. These Census Jobs are only for about 3-4 months. While it is good news that we are adding jobs, the Unemployment Rate stayed at 9.7% while the unemployment overall rose to 16.9%. Those numbers include the full time worker that has either accepted part time or has completely given up. On top of this, Average Hourly Wages is down by 0.1%.

    This week we start off with Monday: Pending Home Sales, Tuesday: FOMC Meeting Minutes, Thursday: Initial Jobless Claims.

    It should be a rather quiet week except for the $82 Billion in Treasuries to be auctioned. These will have longer maturies similar to Mortgage Backed Securities so this could cause volatility in the marketplace.

     You can read about this in more depth at MMG Weekly as well as on how to ”Boost Your Savings…Without Hardly Trying.”

     You can also check out the Daily Rate Lock Advisory each day. This report normally comes out around 10am.

     And as always, I will report daily on twitter @mmtgsolutions on the mortgage interest rates and what to expect for the day. If one of these reports moves the market in a significant manner, I’ll write about it here.

     Please remember, I welcome your comments to this and my other posts.

To an  inspiring week,

Betsy Moore

206-331-2749

     Looking down the road on these mortgage backed-securities that the Fed has beenbuying and now holding, we may see them start selling back into the marketplace. Remember, they have purchased $1.25 trillion of these making their balance sheet on the heavy side. This could result in higher interest rates.

     This coming week is filled with economic reports. The biggies are Monday: Personal Consumption Expenditures and Core Personal Consumption Expenditures, Wednesday: Chicago PMI and, the all important, ADP National Employment Report, and Friday: ISM Index, Non-Farm Payrolls, Unemployment Rate, Average Work Week, and Hourly Earnings.

     Last week’s Initial Jobless Claims showed the lowest numbers in months. But we can’t forget the ones who have totally dropped out of working or those who have had to take part time jobs to make ends meet. We can only hope that the Unemployment Rate is coming down as hopefully more companies start to hire.

     You can read about all of this as well as more about the $8000.00 First Time HomeBuyers Tax Credit that will end April 30, 2010 in this week’s MMG Weekly Review.

     You can also check out the Daily Rate Lock Advisory each day. This report normally comes out around 10am.

     And as always, I will report daily on twitter @mmtgsolutions on the mortgage interest rates and what to expect for the day. If one of these reports moves the market in a significant manner, I’ll write about it here.

     Please remember, I welcome your comments to this and my other posts.

To an  inspiring week,

Betsy Moore

206-331-2749