Mortgage News Blog

After a fairly quiet week, this coming week has 4 economic reports that can move mortgage interest rates.

The most important report will be on Friday with the Unemployment Report. Analysts are predicting that unemployment will go from 9.4% to 9.6%. That would be good for the bond market therefore good for mortgage interest rates. If the unemployment rate is lower, then we could see a raise in mortgage interest rates on Friday.

The other important reports will start on Monday with the January’s Personal Income which gives us consumers’ ability to spend and current spending habits. Remember, consumer spending makes up two-thirds of our economy. Traders are looking for a 0.06% and if it is higher it can move mortgage interest rates higher.

Tuesday, we have the index that reports on manufacturers sentiment, Supply Management. This reports on what manufacturer’s  executives feel about their  business conditions as to whether our economy is getting better or worse.  

Employee Productivity and Costs Data for the 4th Quarter is on Thursday. This report deals with cost of the production and how it relates to capital input and labor costs.

Each of these reports can move the market up or down along with global events. With the Mideast and especially Egypt dealing with riots, protests, and overturning of governments, this could have an effect on the markets in regards to the cost of oil.

You can read a more in depth report about a review of last week’s happenings, this coming weeks’ reports, and a video on “Tax Planning” in this week’s MMG Weekly Report.

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