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MIG Market Watch, April 15th, 2019

MIG Market Watch, April 15th, 2019


MIG Market Watch, April 15th, 2019

MARKET COMMENT
Mortgage bond prices finished the week lower which put a little upward pressure on rates. Rates were steady the first portion of the week. Factory orders fells 0.5% as expected. Most of the negative movement came Thursday and Friday as inflation fears on the producer side were ignited. The producer price index rose 0.6% versus an expected 0.3% increase. The core, which excludes volatile food and energy prices, rose 0.3%. Analysts expected a 0.2% increase. Consumer prices rose 0.4% versus the expected 0.3% increase. However, the core rose 0.1% versus the expected 0.2% increase. Consumer sentiment was lower than expected but did not move things much as stocks were strong Friday morning. Mortgage interest rates finished the week worse by 1/8 of a discount point.

LOOKING AHEAD

Economic Indicator Release Date & Time Consensus Estimate Analysis
Industrial Production Tuesday, April 16,
9:15 am, et
Up 0.2% Important. A measure of manufacturing sector strength. A lower than expected increase may lead to lower rates.
Capacity Utilization Tuesday, April 16,
9:15 am, et
78.6% Important. A figure above 85% is viewed as inflationary. Weaker figure may lead to lower rates.
Housing Starts Wednesday, April 17,
8:30 am, et
1170K Important. A measure of housing sector strength. Weakness may lead to lower rates.
Fed “Beige Book” Wednesday, April 17,
2:00 pm, et
None Important. This Fed report details current economic conditions across the US. Signs of weakness may lead to lower rates.
Retail Sales Thursday, April 18,
8:30 am, et
Up 0.4% Important. A measure of consumer demand. A smaller than expected increase may lead to lower mortgage rates.
Weekly Jobless Claims Thursday, April 18,
8:30 am, et
200K Important. An indication of employment. Higher claims may result in lower rates.
Philadelphia Fed Survey Thursday, April 18,
10:00 am, et
15 Moderately important. A survey of business conditions in the Northeast. Weakness may lead to lower rates.
Business Inventories Thursday, April 18,
10:00 am, et
Up 0.6% Low importance. An indication of stored-up capacity. A significantly larger increase may lead to lower rates.
Leading Economic Indicators Thursday, April 18,
10:00 am, et
Up 0.2% Important. An indication of future economic activity. A smaller increase may lead to lower rates.

Business Inventories
The report on business inventories gives a broader look at the durable goods, factory orders, and retail sales reports. Not only is this report an important part of the investment component of the GDP, but it also provides additional evidence about the economy in the upcoming months. Changes in business inventories slow as the economy approaches a peak and rise as the economy approaches the trough of a recession. Therefore, the change in business inventories is a leading indicator of GDP. The data for this report, which are published by the Department of Commerce’s Census Bureau, comes from a monthly survey of inventories, orders, and manufacturers’ shipments, in addition to the merchant wholesalers and retail trade surveys.

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Mortgage Investors Group, based in Tennessee, offers residential financing in a number of states in the southeast, See MIG Service Areas. Terms and conditions to apply to home financing. We want to share with you the loan terms vary based on several characteristics and your financial profile. These include but are not limited to loan program, loan purpose, occupancy, credit history, credit score, assets, and other criteria per loan type. The repayment terms and interest rate may vary from time to time. The terms represented here are based on certain assumptions outlined below and/or noted on the loan outline page. Additional details concerning privacy, program disclosures, licensing specifics may be found at migonline.com Legal Information.

MIG Loan Officers will help gather the information needed for an individual assessment to provide home financing which matches the loan characteristics with your home financing needs based on your financial profile, when you are ready to begin a full loan application. For estimates and general information before that step, the basis for which the mortgage financing information are as follows:

  • Rates are subject to change at any time.
  • Rate locks are available at current terms for 30 to 180 days based on program type, credit profile, property location, etc. which will affect the available rate and term.
  • Rate locks are available at current terms for 30 to 180 days based on program type, credit profile, property location, etc. which will affect the available rate and term.
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An MIG Loan Officer is available to help with your financial details to determine which characteristics apply to your situation for a personalized look into which loan program best fits your home financing needs. Please use the Find a Loan Officer link or reach out to Mortgage Investors Group at 800-489-8910. Equal Housing Lender 1.2020