Mortgage Market Commentary As Of December 27 2016

Mortgage Market Commentary As Of December 27 2016

Mortgage Market Commentary as of December 27, 2016 courtesy of Dean Mlinarich,Branch Manager with  Caliber Home Loans

A look at where mortgage interest rates are headed including a calendar of upcoming Economic milestones.

Last week was relatively quiet, as expected; however, on Friday, there was small market movement as many participants started their holiday a little early. Positive data from new home sales, University of Michigan releases, did not impact our markets much.

This week the data calendar is very thin and lacks any top tier data releases. In addition to the weekly jobless claims, releases will feature home prices, consumer sentiment, the advance trade goods deficit, wholesale inventories, and the Chicago PMI. With little economic data and no scheduled Fed speakers this week, it is likely that Treasury auctions will dominate the calendar during the holiday week. Treasury will auction a full slate of bills on Tuesday, 2-, 5-, and 7-year notes Tuesday, Wednesday, and Thursday, respectively. Expect a bit of volatility in the markets this week as any news may initially be magnified in impact due to lack of market liquidity.

Economic Calendar for the week of 12/27/2016 to 12/30/2016:

Tuesday:S&P CoreLogic 20-City Survey and Richmond Fed Manufacturing Index

Wednesday:Pending Home Sales and Dallas Fed Manufacturing Index

Thursday:Wholesale Inventories (MoM), Retail Inventories (MoM), Initial Jobless Claims, Continuing Claims, and Bloomberg Consumer Comfort Index

Friday:Chicago Purchasing Manager Index

Dean Mlinarich, Branch Manager        Caliber Home Loans       NMLS ID 155740
1421 Pine Ridge Rd., Suite 220, Naples, FL 34109
Office 239-206-8280  

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Phone: 239-273-4006
Dated: December 28th 2016
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