MORTGAGE MARKET COMMENTARY JANUARY 23. 2017 Courtesy of Dean Mlinarich, Caliber Home Loans
A weekly look at where mortgage interest rates are headed: Last week, mortgage rates increased as a result of better than expected economic numbers. This reduced the demand for the safe haven of U.S. Treasuries and other fixed income assets. The week finished with news that the new administration would cancel a planned drop in the MIP rate for FHA mortgages, causing some volatility in rates for FHA mortgages.
The week ahead will be light on data ahead of Friday, when the first reading for Q4 GDP will be released alongside Durable Goods Orders. Ahead of Friday, markets will likely focus on the first week of the new administration, and specifically changes to trade polices with the White House already indicating that the U.S. will pull out of the Trans Pacific Partnership.
Economic Calendar for the week of 01/23/2017 to 01/27/2017:
Monday: No data releases scheduled
Tuesday: Existing Home Sales, Richmond Fed Manufacturing Index
Wednesday: MBA Mortgage Applications, FHFA Housing Price Index
Thursday: Initial Jobless Claims, Continuing Claims, Wholesale Inventories, New Home Sales
Friday: Q4 GDP Advance Reading, Durable Goods Orders, U of M Consumer Sentiment
Dean Mlinarich, Branch Manager NMLS ID 155740 1421 Pine Ridge Rd., Suite 220, Naples, FL 34109 Office 239-206-8280
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