MORTGAGE NEWS Forecast For The Week March 26 2014

MORTGAGE NEWS Forecast For The Week March 26 2014

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 Thursday.
  • 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 time.
  • 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.
Remember: 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 worse. 

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.

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Phone: 803-477-6685
Dated: March 26th 2014
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About Meg: Hello! Let me introduce myself. I am Meg Liles, a real estate professional with EXIT Midlands Realty...

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