Mortgage News Blog

This week we have five relevant reports that could affect the bond market and therefore, mortgage interest rates. The first is the all important Federal Open Market Committee (FOMC) meeting on Tuesday. This is where traders will scrutinize every word that is published from Bernanke and Company’s press release. Most important will be the wording on the economy and if the wording will change for short term interest rates. A change in the wording could mean a tightening of the monetary supply. Though at present, no one feels that the FOMC will raise short term interest rates, it is the wording as to when they will. Or if they leave the wording the same as last time-”extended period.”  That press release will come out at 2pm EST.

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