This week's economic calendar is packed with important data on housing,
inflation, and economic growth.
Housing data is plentiful this week with the S&P
Case-Shiller Home Price Index and New Home Sales being
reported on Tuesday. Pending Home Sales follows on
We'll get a read on consumer attitudes towards the U.S.
economy with Consumer Confidence on Tuesday and the Consumer
Sentiment Index on Friday.
Wednesday brings February's Durable Goods
Orders, which are orders for items that last for an extended period of
Weekly Initial Jobless Claims will be released as usual on Thursday. Also look
for the final reading of Gross Domestic Product for the
fourth quarter of 2013.
Ending the week, the inflation-reading Personal
Consumption Expenditures data along with Personal Income and Personal
Spending will be delivered on Friday.
Weak economic news normally causes money to flow out of Stocks and into Bonds,
helping Bonds and home loan rates improve, while strong economic news normally
has the opposite result. The chart below shows Mortgage Backed Securities (MBS),
which are the type of Bond on which home loan rates are based.
When you see these Bond prices moving higher, it means home loan rates
are improving – and when they are moving lower, home loan rates are getting
To go one step further – a red "candle" means that MBS worsened
during the day, while a green "candle" means MBS improved during the
day. Depending on how dramatic the changes were on any given day, this can
cause rate changes throughout the day, as well as on the rate sheets we start
with each morning.
As you can see in the chart below, Mortgage Bonds worsened after the Fed
meeting but were able to stabilize. Home loan rates remain near historic best
levels and I will continue to monitor them closely.
Author:Meg Liles Phone: 803-477-6685 Dated: March 26th 2014 Views: 920 About Meg: Hello! Let me introduce myself. I am Meg Liles, a real estate professional with EXIT Midlands Realty...
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