Market Overview, Weekly Review

What’s News for Mortgage Rates This Week: November 22nd

November 22, 2010 by · 1 Comment 

TGI Black Friday Ads 2010 | www.tgiblackfriday.comWe may have a holiday shortened week ahead, but the markets will be filled with plenty of action. The Treasury will be buying $99 Billion in 2, 5 and 7-Year Notes on Monday, Tuesday and Wednesday.

Economic reports for the week begin on Tuesday with the Gross Domestic Product Report, which is the broadest measure of economic activity, and also the Existing Home Sales Report.

Also on Tuesday, the “Meeting Minutes” from the Fed’s most recent meeting on November 2-3 will be released.

On Wednesday, we’ll have a virtual feast of economic reports just ahead of Thanksgiving. We’ll get another round of housing news with the New Home Sales Report, plus another read on the economy with the Durable Goods Report, which gives us an update on consumer and business buying behavior on big-ticket items that are designed to last for an extended period of time.

Not to be left out, there will be jobs news on Wednesday via the Initial and Continuing Jobless Claims numbers, and inflation news via the Personal Consumption Expenditures (PCE) Index, which happens to be the Fed’s favorite gauge of inflation.

Financial markets will be closed all day on Thursday in honor of the Thanksgiving holiday, while on Friday the Stock and Bond markets will close early, at 12:00 p.m. CDT and 1:00 p.m. CDT respectively. I wish you and your loved ones a safe, happy, and fun Thanksgiving!

This is What’s News for Mortgage Rates This Week: November 22nd

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.

Do you want to avoid the hectic shopping spree the day after Thanksgiving better known as Black Friday? If yes, check out the Mortgage Market Guide View to learn about 5 Inexpensive, Easy-to-Purchase Gifts.

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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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