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MARKET COMMENTARY

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

Market Commentary

The US 10yr closed last week at 3.077. The week was a good week for mortgages and bonds in general, as equities were crushed with both the S&P 500 and Dow Jones experiencing large declines.

This week, investors will be focused on financial market volatility and labor market themes. Both personal spending and personal income figures come out Monday, helping investors determine if spending growth will continue into Q4. October jobs numbers will be released on Friday, which will be the last jobs report before the November midterm elections. In addition, central bank decisions are due this week from the Bank of Japan and the European Central Bank.

Economic Calendar for the week of 10/29/2018 to 11/02/2018:
Monday: Personal Income, Personal Spending, PCE and Dallas Fed Manufacturing Activity
Tuesday: S&P CoreLogic Survey
Wednesday: Weekly MBA Mortgage Index, ADP Employment Change, Employment Cost Index, and Chicago Purchasing Manager
Thursday: Nonfarm Productivity, Initial Claims, Continuing Claims, Bloomberg Consumer Comfort Index, Construction Spending, ISM Manufacturing, ISM Employment, ISM Prices Paid, and Ward’s Total Vehicle Sales
Friday: Change in Nonfarm Payrolls, Unemployment Rate, Factory Goods Orders and Durable Goods Orders
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