Market Overview, Weekly Review

What’s News for Mortgage Rates This Week: November 15th

November 15, 2010 by · 1 Comment 

If Inflation Is a Hot Air Balloon Then Mortgage Rates Is the Basket“Inflation is when you pay $15 for the $10 haircut you used to get for $5 when you had hair.” – Sam Ewing

After a relatively slow schedule of economic reports last week, we’ll see some big reports over the next few days with the potential to really move the markets.

We started off right away this morning with the Retail Sales report for October as well as a dose of manufacturing news in the Empire State Index, which looks at New York State’s manufacturing sector, and is a good gauge of manufacturing overall. On Thursday, we’ll also see the Philadelphia Fed Index, which is another important manufacturing report.

Those two indices have the potential to impact the market, since they indicate the health of the manufacturing sector in the US. Even more big news is headed our way on Tuesday with the Producer Price Index (PPI), which measures inflation at the wholesale level.

Then, the very next day on Wednesday morning, we’ll see the Consumer Price Index (CPI) with a look at inflation at the consumer level. In light of last week’s news and the information described above, it will be important to see what these reports reveal – since inflation is the archenemy of Bonds and home loan rates.

Wednesday will also bring more housing industry news with reports on the number of Housing Starts and Building Permits in October.

The week of reports caps off on Thursday with the Initial Jobless Claims report. Last week’s report indicated that Initial Jobless Claims fell in the latest week to the lowest reading since July. Continuing Jobless Claims also moved lower. While those numbers showed modest improvements and are steps in the right direction, there is still a lot of wood to chop where jobs are concerned.

This is What’s News for Mortgage Rates This Week: November 15th.

Quick general rule of thumb when keeping an eye on mortgage rates.

Strong Economic News: $$$ from Bonds —> Stocks = Home Loan Rates Worsen

Weak Economic News: $$$ from Stocks —> Bonds = Home Loan Rates Improve

Want to see what other economic reports might impact home buyers and home refinance options in the coming week? Visit the Mortgage Market Update and check out the Economic Calendar.

Have things begun to pile up in your house? If you feel overwhelmed and don’t know where to start, check out the Mortgage Market Guide View to learn the Financial Benefits of Decluttering.

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James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

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