Market Overview, Mortgage News, Weekly Review

What’s News for Mortgage Rates This Week: January 17th

January 17, 2011 by · Leave a Comment 

Martin Luther King Jr US Postal Stamp uploaded by James BarathIt is another holiday shortened week ahead, as both the Stock and Bond Markets are closed today in honor of the Martin Luther King, Jr. holiday. But the rest of the week has plenty of news in store, including a read on the housing market.

Although mortgage bonds and home loan rates ended the previous week about the same place as where they began, both mortgage bonds and home loan rates had their ups and downs. The week ahead may see much of the same.

  • There’s a double dip of real estate news with Wednesday’s Housing Starts and Building Permits Report and Thursday’s Existing Home Sales Report. Analysts are expecting to see a bump higher in Existing Home Sales to a 4.80M pace, and some moderate improvement on the new construction side as well.
  • There’s also a double serving of manufacturing news. Tuesday’s Empire State Index looks at New York State’s manufacturing sector and is a good gauge of manufacturing overall, while on Thursday we’ll also see the Philadelphia Fed Index, another important report.
  • Thursday’s weekly Initial and Continuing Jobless Claims Report will be an important one to watch this week. Last week Initial Jobless Claims came in at 445,000, well above expectations of 415,000 and the highest reading in two months. Was this spike just a paperwork backlog because of the holidays? Will this week’s claims be close to that 400,000 mark that will show the labor market is continuing to improve?
  • Earnings season continues with reports from Citigroup, Apple, Google, GE, Goldman Sachs, and more.

This is What’s News for Mortgage Rates This Week: January 17th.

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

So what should you do if you have been thinking about buying a home or refinancing a home in Northwest Indiana? Call or text me at 512-522-7284 to discuss your personal situation and your home loan options.

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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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