Monday, October 28, 2019

What’s going on and why does it matter?
Mortgage bonds opened lower this morning as stocks rally on news that the European Union has extended the Brexit deadline from October 31 to January 31. The economic calendar is quite full this week with several high-tier economic reports scheduled for release, including Friday’s always-important jobs report. The market will also be closely watching as the Fed issues its interest rate decision and monetary policy statement on Wednesday. The Fed is expected to cut short-term rates by 0.25%. This week also includes several high-profile corporate earnings reports, including Alphabet after the close today and Apple on Wednesday. This could add to market volatility.

What should you do about it?
Lock your rate to be safe.

Economic Calendar

Economic reports that may impact mortgage rates this week:

Tue 29 OctConsumer ConfidenceOct125.1127.4 
Tue 29 OctPending Home Sales ChangeSep1.6%0.5% 
Wed 30 OctADP National EmploymentOct135k120k 
Wed 30 OctGDP AdvanceQ3 20192.0%1.7% 
Wed 30 OctCore PCE Prices AdvanceQ3 20191.9%2.2% 
Wed 30 OctFed Funds Target Rate2.00%1.75% 
Thu 31 OctPersonal IncomeSep0.4%0.3% 
Thu 31 OctCore PCE Price IndexSep0.1%0.1% 
Thu 31 OctInitial Jobless ClaimsWeek of Oct 21212k215k 
Thu 31 OctChicago PMIOct47.148.0 
Fri 1 NovNon-Farm PayrollsOct136k90k 
Fri 1 NovUnemployment RateOct3.5%3.6% 
Fri 1 NovAverage EarningsOct0.0%0.3% 
Fri 1 NovConstruction SpendingSep0.1%0.2% 
Fri 1 NovISM Mfg. PMIOct47.848.8

Leave a Reply

Your email address will not be published. Required fields are marked *