MIG Market Watch, November 25th, 2019

MIG Market Watch, November 25th, 2019

MIG Market Watch, November 25th, 2019

Mortgage bond prices finished the week near unchanged which kept rates flat. Rates improved Monday morning only to give back the gains Tuesday. Housing starts were 1.314M versus the expected 1.3M. Trade tensions flared as the House and Senate passed the Human Rights and Democracy Act and China responded with a sharp response that indicated “the U.S. has to bear all the consequences.” The data later in the week was mixed. Weekly jobless claims were 227K versus the expected 216K. The Philadelphia Fed report was 10.4. Analysts expected a reading of 5.5. Existing home sales were 5.46M versus the expected 5.5M. LEI fell 0.1% as expected. Consumer sentiment was 96.8 versus the expected 94.9. Mortgage interest rates finished the week with discount points near unchanged.


Economic Indicator Release Date & Time Consensus Estimate Analysis
Consumer Confidence Tuesday, Nov. 26,
10:00 am, et
126 Important. An indication of consumers’ willingness to spend. Weakness may lead to lower mortgage rates.
New Home Sales Tuesday, Nov. 26,
10:00 am, et
710K Important. An indication of economic strength and credit demand. Weakness may lead to lower rates.
Personal Income and Outlays Wednesday, Nov. 27,
8:30 am, et
Up 0.3%,
Up 0.1%
Important. A measure of consumers’ ability to spend. Weakness may lead to lower mortgage rates.
PCE Core Inflation Wednesday, Nov. 27,
8:30 am, et
Up 1.6% Important. A measure of price increases for all domestic personal consumption. Weaker figure may help rates improve.
Durable Goods Orders Wednesday, Nov. 27,
8:30 am, et
Down 1.2% Important. An indication of the demand for “big ticket” items. Weakness may lead to lower rates.
Fed “Beige Book” Wednesday, Nov. 27,
2:00 pm, et
None Important. This Fed report details current economic conditions across the US. Signs of weakness may lead to lower rates.
Weekly Jobless Claims Friday, Nov. 29,
8:30 am, et
220K Important. An indication of employment. Higher claims may result in lower rates.


The minutes from the last Federal Open Market Committee indicated the Fed is done with rate cuts for now. They specifically noted that some members believed the Committee “should reinforce its postmeeting statement with additional communications indicating that another reduction in the federal funds rate was unlikely in the near term unless incoming information was consistent with a significant slowdown in the pace of economic activity.

The information available for the October 29–30 meeting indicated that labor market conditions remained strong and that real gross domestic product (GDP) increased at a moderate rate in the third quarter. Consumer price inflation, as measured by the 12-month percentage change in the price index for personal consumption expenditures (PCE), remained below 2 percent in August. Survey-based measures of longer-run inflation expectations were little changed. Financing conditions in the residential mortgage market remained accommodative on balance. Mortgage rates were little changed since the September FOMC meeting and stayed near their lowest level since mid-2016. In September, home-purchase originations remained around the relatively high level seen during the previous two months, while refinancing originations jumped to their highest level since late 2012.”


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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 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.
  • Payments will vary based on program selection, current rates, property location, etc.
  • Not all programs are available in all states.
  • Some loan programs may not be available to first time home buyers.
  • Terms and conditions apply, which may include restrictions or limits per loan program.
  • Information is generally based on primary residence occupancy with no cash out when refinancing.
  • Unless otherwise stated, terms shown are estimates based in part on credit score of 700 or higher; owner occupancy, escrow account is established for taxes and insurance(s); debt-to-income ratio no higher than 43.0%; PMI applies to conventional loan programs over 80.0% LTV; VA,FHA & RD require insuring fees included in loan and/or payment; fixed rate, 30 year term.

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