{"id":4254,"date":"2019-06-17T09:00:32","date_gmt":"2019-06-17T13:00:32","guid":{"rendered":"http:\/\/migonline.com\/blog\/?p=4254"},"modified":"2019-06-14T17:07:34","modified_gmt":"2019-06-14T21:07:34","slug":"mig-market-watch-june-17th-2019","status":"publish","type":"post","link":"https:\/\/migonline.com\/blog\/2019\/06\/17\/mig-market-watch-june-17th-2019\/","title":{"rendered":"MIG Market Watch, June 17th, 2019"},"content":{"rendered":"

MARKET COMMENT<\/strong><\/p>\n

Mortgage bond prices finished the week within a narrow range that kept rates very steady.\u00a0 Rates were higher Monday morning as stocks pushed higher after the US Administration announced a halt to tariffs on Mexican goods.\u00a0 Inflation was tame on both the producer and consumer sides.\u00a0 Producer prices rose 0.1% the core rose 0.2% as expected.\u00a0 Consumer prices and core both rose 0.1% as expected.\u00a0 Weekly jobless claims were a little higher than expected at 222K and rates were slightly improved as a result.\u00a0 Retail sales rose 0.5% versus the expected 0.7% increase.\u00a0 Factoring out autos sales rose 0.5% versus an expected 0.4% increase.\u00a0 The mixed data kept things steady Friday morning.\u00a0 Consumer sentiment printed at 97.9.\u00a0 Mortgage interest rates finished the week near unchanged to better by approximately 1\/8 of a discount point.<\/p>\n

LOOKING AHEAD<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n
Economic\u00a0Indicator<\/strong><\/td>\nRelease\u00a0Date & Time<\/strong><\/td>\nConsensus\u00a0Estimate<\/strong><\/td>\nAnalysis<\/strong><\/td>\n<\/tr>\n
Housing Starts<\/td>\nTuesday, June 18,
\n8:30 am, et<\/td>\n		1145K<\/td>\nImportant.\u00a0 A measure of housing sector strength.\u00a0 Weakness may lead to lower rates.<\/td>\n<\/tr>\n
Fed Meeting Adjourns<\/td>\nWednesday, June 19
\n2:15 pm, et<\/td>\n		No rate changes<\/td>\nImportant.\u00a0 Few expect the Fed to change rates, but some volatility may surround the adjournment of this meeting.<\/td>\n<\/tr>\n
Weekly Jobless Claims<\/td>\nThursday, June 20,
\n8:30 am, et<\/td>\n		218K<\/td>\nImportant.\u00a0 An indication of employment.\u00a0\u00a0 Higher claims may result in lower rates.<\/td>\n<\/tr>\n
Philadelphia Fed Survey<\/td>\nThursday, June 20,
\n10:00 am, et<\/td>\n		6.4<\/td>\nModerately important.\u00a0 A survey of business conditions in the Northeast.\u00a0 Weakness may lead to lower rates.<\/td>\n<\/tr>\n
Leading Economic Indicators<\/td>\nThursday, June 20,
\n10:00 am, et<\/td>\n		Up 0.2%<\/td>\nImportant.\u00a0 An indication of future economic activity.\u00a0 A smaller increase may lead to lower rates.<\/td>\n<\/tr>\n
Existing Home Sales<\/td>\nFriday, June 21,
\n10:00 am, et<\/td>\n		5.2M<\/td>\nLow importance.\u00a0 An indication of mortgage credit demand.\u00a0 Significant weakness may lead to lower rates.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

Globalization<\/span><\/strong><\/p>\n

Economic globalization is the increasing interdependence of national economies through trade, finances, and technology.\u00a0 While economists debate the pros and cons of globalization, the fact remains that globalization is not new and continues to expand.<\/p>\n

 <\/p>\n

As a driving force in the global economy, the US often benefits when foreign economies struggle.\u00a0 Investors often move funds to safe havens in what is called a \u201cflight to quality\u201d in uncertain times.\u00a0 US debt instruments saw an influx of foreign investment historically amid concerns of nations defaulting on their debt and various banking institutions struggling.\u00a0 Bond prices rose, which caused mortgage interest rates to fall.\u00a0 From a short-term perspective it was great for U.S. homebuyers and those refinancing if they took advantage of the drop in rates. \u00a0However, what goes up often comes down and we have witnessed some reversal of the flight to quality buying of US debt from time to time as the Eurozone showed some signs of stability. Nobody can say with certainty how it will all play out.\u00a0 Stability isn\u2019t growth.\u00a0 As a result, we should expect continued mortgage interest rate volatility.<\/p>\n

 <\/p>\n

Fortunately, the Fed\u2019s effort to buy mortgage bonds and keep rates low has worked.\u00a0 The Fed continues to state the goal of maintaining the low interest rate environment.\u00a0 Now is a great time to take advantage of rates at these levels.<\/p>\n","protected":false},"excerpt":{"rendered":"

MARKET COMMENT Mortgage bond prices finished the week within a narrow range that kept rates very steady.\u00a0 Rates were higher Monday morning as stocks pushed higher after the US Administration announced a halt to tariffs on Mexican goods.\u00a0 Inflation was tame on both the producer and consumer sides.\u00a0 Producer prices rose 0.1% the core rose … Continue reading MIG Market Watch, June 17th, 2019<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":4255,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/posts\/4254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/comments?post=4254"}],"version-history":[{"count":1,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/posts\/4254\/revisions"}],"predecessor-version":[{"id":4256,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/posts\/4254\/revisions\/4256"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/media\/4255"}],"wp:attachment":[{"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/media?parent=4254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/categories?post=4254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/tags?post=4254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}