The top news for this week will be what the Feds have to say when their meeting minutes are published. Bernanke and Company start their two day meeting this Tuesday. At the end, they will released their meeting minutes in which investors and traders will dissect each word and phrase that they hope will foretell when the Fed will raise their Fed Fund rate.
Though economic reports will be light this week, we do have on Tuesday and Wednesday, Existing Home Sales and New Home Sales respectively. Low numbers will mean that the housing inventory is shrinking which will be good all over for housing industry. On Friday, we will have Consumer Sentiment Index which tells us what us, the consumers, feel about the economy. And as always, we have the weekly Initial Jobless Claims Report which will also be watched closely since last week’s claims were higher than expected.
And let’s not forget the weekly round of Treasury auction. The Fed will be auctioning off $108 Billion of 2, 5, and 7 year Treasury Notes. Those start on Tuesday and could move mortgage interest rates if they are not well recieved.
You can read more about this and why former Fed Chairman Greenspan has to say about yields and higher interest rates in this week’s MMG Week in Review. And don’t forget to listen to the Kiplinger’s report about “Kids and Credit Cards”.
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
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