Mortgage Market Commentary Courtesy of Caliber Home Loans, Inc.
Nov 14, 2016
Mortgage rates rose substantially last week on news of the U.S. presidential election. Since the election results, equities have soared and bonds have been crushed as investors have focused on the possibility of lower corporate taxes and an increase in inflation.
We would like to say that the election is behind us and this week will return to market fundamentals, but that is probably not the case. This week will likely be about President-elect Trump's public comments and also those of his Republican party. The week ahead starts off slowly with no notable economic releases scheduled Monday, but three non-voting Fed members speak (Kaplan, Lacker, and Williams). The calendar will be highlighted by the Retail Sales and CPI reports Tuesday and Thursday. There will continue to be a number of Fed speakers throughout the week and Fed Chair Janet Yellen is scheduled to testify on the economic outlook before the Joint Economic Committee on Thursday. Despite the fact that the rates have risen so much in the past week (the yield on the 10yr US Treasury has risen from 1.78% to above 2.10%), Fed funds futures have a 92 percent probability of a rate hike in December.
Economic Calendar for the week of 11/14/2016 to 11/18/2016:
Tuesday: Import Price Index, Empire Manufacturing, Retail Sales and Business Inventories
Wednesday: MBA Mortgage Applications, PPI Final Demand, PPI Ex Food & Energy, Industrial Production, Capacity Utilization and NAHB Housing Market Index
Thursday: Bloomberg Economic Survey, Housing Starts, Building Permits,Consumer Price Index, Continuing Claims, Real Average Weekly Earnings, Philadelphia Fed Business Outlook, and Bloomberg Consumer Comfort Index
Friday: Leading Index and Kansas City Fed Manufacturing Activity
Dean Mlinarich, NML #S155740
Author:Fay Bamond Phone: 239-273-4006 Dated: November 15th 2016 Views: 120 About Fay: Fay Bamond, PA, Broker Associate, provides buyers and sellers in-depth local knowledge, technologica...
Whether you are buying or selling, exceeding your expectations is the commitment the Move2NaplesNow team makes to you. Superior real estate representation is not based merely on locating or marketing a specific property address, but instead on fostering a relationship of mutual trust and shared success. Specializing in the Greater Naples market, Move2NaplesNow, provides buyers and sellers the information, technological tools and exposure needed to effectively meet their individual objectives.
Promising the highest performance standards; honesty, integrity and stability are the core values of the organization. Providing in-depth market knowledge, flexibility, solution and response oriented ac tion with an individualized touch and attention to detail are the mainstay of the team's superior service. Move2NaplesNow stands ready to meet your objectives. They are always prepared to assist experienced as well as first-time home buyers, or investors as they seek their perfect home, vacation or investment property. When you are ready to buy or sell, contact our team to achieve the results you want. Rest assured your experience will yield the outcome you require with the treatment you deserve. Put the power and expertise professional full-time, success driven agents to work for you.
Naples and across the US Home-ownership Still Vital to Build WealthAc
"Fay was great and knowledgeable about homes, the area, and what each area offers. She was very accommodating with any and all my needs. Very helpful with any information that I needed. I would recommend and use her again. "