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MARKET COMMENTARY

A weekly look at where mortgage interest rates are headed. A weekly Economic Calendar is also included.

Jun 26, 2017

Mortgage rates experienced a slight decline last week as a week with little economic data developed no major surprises.  It was one of those rare weeks with relatively few shakeups in terms of political developments on both the domestic and foreign fronts.

The week ahead is light in terms of economic data, however there are other items to keep an eye on.  Overseas, the annual ECB Forum on Central Banking in Sintra, Portugal. The forum kicks off this evening and continues through to Wednesday and is more or less equivalent to the Fed’s Jackson Hole event. Mario Draghi is due to speak 3 times over the next couple of days.  Back home in the United States, the results of the second part of the Fed’s annual bank stress test are announced Wednesday.  The most significant domestic data of the week will probably be durable goods orders reports on Monday morning.  The Fedspeak this week consists of Fed Chair Yellen tomorrow evening along with Williams, Harker and Kashkari also at various stages tomorrow, and Williams again on Wednesday and Bullard on Thursday.

Economic Calendar for the week of 06/23/2017 to 06/30/2017:

Monday: Durable Goods Orders, Chicago Fed National Activity Index, and Dallas Fed National Activity Index

Tuesday: S&P CoreLogic 20-City Survey

Wednesday: MBA Mortgage Applications, Wholesale Inventories, Retail Inventories, and Pending Home Sales

Thursday: GDP Annualized (QoQ), Personal Consumption, GDP Price Index, Initial Jobless Claims, Continuing Claims, and Bloomberg Consumer Comfort Index

Friday: Personal Income, Personal spending, PCE Core, Chicago Purchasing Manager, and University of Michigan Sentiment

Past Commentaries

Jun 26, 2017

Mortgage rates experienced a slight decline last week...
Full Story

Jun 19, 2017

Mortgage rates fell slightly last week with no surprise from the Fed...
Full Story

Jun 12, 2017

Mortgage rates finished last week slightly worse...
Full Story

Jun 05, 2017

Mortgage rates fell at the end of last week after a surprisingly low Nonfarm Payrolls number...
Full Story

May 30, 2017

Mortgage rates remained relatively flat last week, with Wednesday’s release of the FOMC minutes...
Full Story

May 22, 2017

Mortgage rates fell last week as political fallout in Washington...
Full Story

May 15, 2017

Mortgage rates improved last week after lower than expected Retail Sales and CPI...
Full Story
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