{"id":4654,"date":"2019-12-30T09:23:25","date_gmt":"2019-12-30T14:23:25","guid":{"rendered":"http:\/\/migonline.com\/blog\/?p=4654"},"modified":"2019-12-30T09:23:25","modified_gmt":"2019-12-30T14:23:25","slug":"mig-market-watch-december-30th-2019","status":"publish","type":"post","link":"https:\/\/migonline.com\/blog\/2019\/12\/30\/mig-market-watch-december-30th-2019\/","title":{"rendered":"MIG Market Watch, December 30th, 2019"},"content":{"rendered":"<p><strong>MARKET COMMENT<\/strong><br \/>\nMortgage bond prices finished the week higher which put slight downward pressure on rates. Rates fell Monday morning to start the week on a positive tone. Durable goods orders fell 2% versus the expected 1.4% decline. New home sales data was also worse than expected. Sales rose 719K versus the expected 735K increase. We reversed course Tuesday morning as stocks remained solid. The slight negative movement erased the Monday improvements. The Treasury auctions were mixed. The 2Y showed weaker foreign demand early in the week, the 5Y was solid Tuesday afternoon, and the 7Y was near average. Weekly jobless claims printed at 222K and continuing claims, a summation of all receiving benefits, at 1,719K. Traders expected claims at 224K and continuing claims at 1,722K. Mortgage interest rates finished the week better by approximately 1\/8 to 1\/4 of a discount point.<\/p>\n<p><strong>LOOKING AHEAD<\/strong><\/p>\n<table class=\"table table-bordered\" border=\"1\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"25%\"><strong>Economic Indicator<\/strong><\/td>\n<td width=\"25%\"><strong>Release Date &amp; Time<\/strong><\/td>\n<td width=\"15%\"><strong>Consensus Estimate<\/strong><\/td>\n<td width=\"35%\"><strong>Analysis<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"25%\">FHFA House Price Index<\/td>\n<td width=\"25%\">Tuesday, Dec. 31,<br \/>\n10:00 am, et<\/td>\n<td width=\"15%\">Up 0.7%<\/td>\n<td width=\"35%\">Moderately Important.\u00a0 A measure of single-family house prices.\u00a0 Weakness may lead to lower rates.<\/td>\n<\/tr>\n<tr>\n<td width=\"25%\">Consumer Confidence<\/td>\n<td width=\"25%\">Tuesday, Dec. 31,<br \/>\n10:00 am, et<\/td>\n<td width=\"15%\">126<\/td>\n<td width=\"35%\">Important.\u00a0 An indication of consumers\u2019 willingness to spend.\u00a0 Weakness may lead to lower mortgage rates.<\/td>\n<\/tr>\n<tr>\n<td width=\"25%\">Weekly Jobless Claims<\/td>\n<td width=\"25%\">Thursday, Jan. 2,<br \/>\n8:30 am, et<\/td>\n<td width=\"15%\">205K<\/td>\n<td width=\"35%\">Important.\u00a0 An indication of employment.\u00a0\u00a0 Higher claims may result in lower rates.<\/td>\n<\/tr>\n<tr>\n<td width=\"25%\">ISM Index<\/td>\n<td width=\"25%\">Thursday, Jan. 2,<br \/>\n10:00 am, et<\/td>\n<td width=\"15%\">48.5<\/td>\n<td width=\"35%\">Important.\u00a0 A measure of manufacturer sentiment.\u00a0 Weakness may lead to lower mortgage rates.<\/td>\n<\/tr>\n<tr>\n<td width=\"25%\">Construction Spending<\/td>\n<td width=\"25%\">Friday, Jan. 3,<br \/>\n10:00 am, et<\/td>\n<td width=\"15%\">Down 0.8%<\/td>\n<td width=\"35%\">Low importance.\u00a0 An indication of economic strength.\u00a0 Significant weakness may lead to lower rates.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>THE YEAR AHEAD<\/strong><br \/>\nThe future of the economy will continue to be debated. There is no certainty in predictions but the recent data, Fed statements, and Fed action clearly signal continued signs of improvement. The biggest concern recently has been the extreme stock strength. Stocks extended record highs and some analysts anticipate additional surges in the months ahead. However, the possibility for bumps along the way are real. Trade tensions between the US and China are expected to simmer as the most recent announcements indicate Phase 1 of the trade deal agreed to this month will be signed the first week of January. The UK\u2019s exit from the European Union is also anticipated.<\/p>\n<p>Recent analysis of Fed statements and projections favor no rate changes the first few months of the year but not all analysts are convinced things will remain rosy. Former Fed Chair Greenspan indicated inflation will \u201cinevitably rise\u201d and he isn\u2019t alone in this thinking.<\/p>\n<p>The positive for us is that the Fed is clear that they want to keep rates low for now. Their most recent statement indicated \u201cInformation received since the Federal Open Market Committee met in October indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low. Although household spending has been rising at a strong pace, business fixed investment and exports remain weak. On a 12\u2011month basis, overall inflation and inflation for items other than food and energy are running below 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed.\u201d<\/p>\n<p>The Fed is clear that they will adjust policy considering \u201cincoming information for the economic outlook, including global developments and muted inflation pressures.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MARKET COMMENT Mortgage bond prices finished the week higher which put slight downward pressure on rates. Rates fell Monday morning to start the week on a positive tone. Durable goods orders fell 2% versus the expected 1.4% decline. New home sales data was also worse than expected. Sales rose 719K versus the expected 735K increase. &hellip; <a href=\"https:\/\/migonline.com\/blog\/2019\/12\/30\/mig-market-watch-december-30th-2019\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">MIG Market Watch, December 30th, 2019<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":4657,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-4654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-watch"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>MIG Market Watch, December 30th, 2019 - Mortgage Investors Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/migonline.com\/blog\/2019\/12\/30\/mig-market-watch-december-30th-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MIG Market Watch, December 30th, 2019 - Mortgage Investors Group\" \/>\n<meta property=\"og:description\" content=\"MARKET COMMENT Mortgage bond prices finished the week higher which put slight downward pressure on rates. Rates fell Monday morning to start the week on a positive tone. Durable goods orders fell 2% versus the expected 1.4% decline. New home sales data was also worse than expected. Sales rose 719K versus the expected 735K increase. &hellip; Continue reading MIG Market Watch, December 30th, 2019 &rarr;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/migonline.com\/blog\/2019\/12\/30\/mig-market-watch-december-30th-2019\/\" \/>\n<meta property=\"og:site_name\" content=\"Mortgage Investors Group\" \/>\n<meta property=\"article:published_time\" content=\"2019-12-30T14:23:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/migonline.com\/blog\/wp-content\/uploads\/2019\/12\/MarketReview_December30.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Moneek\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Moneek\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2019\\\/12\\\/30\\\/mig-market-watch-december-30th-2019\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2019\\\/12\\\/30\\\/mig-market-watch-december-30th-2019\\\/\"},\"author\":{\"name\":\"Moneek\",\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/#\\\/schema\\\/person\\\/f7df6ab3b3775912d3bf05a25a1c0fe4\"},\"headline\":\"MIG Market Watch, December 30th, 2019\",\"datePublished\":\"2019-12-30T14:23:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2019\\\/12\\\/30\\\/mig-market-watch-december-30th-2019\\\/\"},\"wordCount\":561,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2019\\\/12\\\/30\\\/mig-market-watch-december-30th-2019\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/migonline.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/12\\\/MarketReview_December30.png\",\"articleSection\":[\"Market Watch\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/migonline.com\\\/blog\\\/2019\\\/12\\\/30\\\/mig-market-watch-december-30th-2019\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2019\\\/12\\\/30\\\/mig-market-watch-december-30th-2019\\\/\",\"url\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2019\\\/12\\\/30\\\/mig-market-watch-december-30th-2019\\\/\",\"name\":\"MIG Market Watch, December 30th, 2019 - Mortgage Investors Group\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2019\\\/12\\\/30\\\/mig-market-watch-december-30th-2019\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2019\\\/12\\\/30\\\/mig-market-watch-december-30th-2019\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/migonline.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/12\\\/MarketReview_December30.png\",\"datePublished\":\"2019-12-30T14:23:25+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/#\\\/schema\\\/person\\\/f7df6ab3b3775912d3bf05a25a1c0fe4\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2019\\\/12\\\/30\\\/mig-market-watch-december-30th-2019\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/migonline.com\\\/blog\\\/2019\\\/12\\\/30\\\/mig-market-watch-december-30th-2019\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2019\\\/12\\\/30\\\/mig-market-watch-december-30th-2019\\\/#primaryimage\",\"url\":\"https:\\\/\\\/migonline.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/12\\\/MarketReview_December30.png\",\"contentUrl\":\"https:\\\/\\\/migonline.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/12\\\/MarketReview_December30.png\",\"width\":1024,\"height\":512},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2019\\\/12\\\/30\\\/mig-market-watch-december-30th-2019\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/migonline.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"MIG Market Watch, December 30th, 2019\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/migonline.com\\\/blog\\\/\",\"name\":\"Mortgage Investors Group\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/migonline.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/#\\\/schema\\\/person\\\/f7df6ab3b3775912d3bf05a25a1c0fe4\",\"name\":\"Moneek\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"MIG Market Watch, December 30th, 2019 - Mortgage Investors Group","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/migonline.com\/blog\/2019\/12\/30\/mig-market-watch-december-30th-2019\/","og_locale":"en_US","og_type":"article","og_title":"MIG Market Watch, December 30th, 2019 - Mortgage Investors Group","og_description":"MARKET COMMENT Mortgage bond prices finished the week higher which put slight downward pressure on rates. Rates fell Monday morning to start the week on a positive tone. Durable goods orders fell 2% versus the expected 1.4% decline. New home sales data was also worse than expected. Sales rose 719K versus the expected 735K increase. &hellip; Continue reading MIG Market Watch, December 30th, 2019 &rarr;","og_url":"https:\/\/migonline.com\/blog\/2019\/12\/30\/mig-market-watch-december-30th-2019\/","og_site_name":"Mortgage Investors Group","article_published_time":"2019-12-30T14:23:25+00:00","og_image":[{"width":1024,"height":512,"url":"https:\/\/migonline.com\/blog\/wp-content\/uploads\/2019\/12\/MarketReview_December30.png","type":"image\/png"}],"author":"Moneek","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Moneek","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/migonline.com\/blog\/2019\/12\/30\/mig-market-watch-december-30th-2019\/#article","isPartOf":{"@id":"https:\/\/migonline.com\/blog\/2019\/12\/30\/mig-market-watch-december-30th-2019\/"},"author":{"name":"Moneek","@id":"https:\/\/migonline.com\/blog\/#\/schema\/person\/f7df6ab3b3775912d3bf05a25a1c0fe4"},"headline":"MIG Market Watch, December 30th, 2019","datePublished":"2019-12-30T14:23:25+00:00","mainEntityOfPage":{"@id":"https:\/\/migonline.com\/blog\/2019\/12\/30\/mig-market-watch-december-30th-2019\/"},"wordCount":561,"commentCount":0,"image":{"@id":"https:\/\/migonline.com\/blog\/2019\/12\/30\/mig-market-watch-december-30th-2019\/#primaryimage"},"thumbnailUrl":"https:\/\/migonline.com\/blog\/wp-content\/uploads\/2019\/12\/MarketReview_December30.png","articleSection":["Market Watch"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/migonline.com\/blog\/2019\/12\/30\/mig-market-watch-december-30th-2019\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/migonline.com\/blog\/2019\/12\/30\/mig-market-watch-december-30th-2019\/","url":"https:\/\/migonline.com\/blog\/2019\/12\/30\/mig-market-watch-december-30th-2019\/","name":"MIG Market Watch, December 30th, 2019 - Mortgage Investors Group","isPartOf":{"@id":"https:\/\/migonline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/migonline.com\/blog\/2019\/12\/30\/mig-market-watch-december-30th-2019\/#primaryimage"},"image":{"@id":"https:\/\/migonline.com\/blog\/2019\/12\/30\/mig-market-watch-december-30th-2019\/#primaryimage"},"thumbnailUrl":"https:\/\/migonline.com\/blog\/wp-content\/uploads\/2019\/12\/MarketReview_December30.png","datePublished":"2019-12-30T14:23:25+00:00","author":{"@id":"https:\/\/migonline.com\/blog\/#\/schema\/person\/f7df6ab3b3775912d3bf05a25a1c0fe4"},"breadcrumb":{"@id":"https:\/\/migonline.com\/blog\/2019\/12\/30\/mig-market-watch-december-30th-2019\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/migonline.com\/blog\/2019\/12\/30\/mig-market-watch-december-30th-2019\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/migonline.com\/blog\/2019\/12\/30\/mig-market-watch-december-30th-2019\/#primaryimage","url":"https:\/\/migonline.com\/blog\/wp-content\/uploads\/2019\/12\/MarketReview_December30.png","contentUrl":"https:\/\/migonline.com\/blog\/wp-content\/uploads\/2019\/12\/MarketReview_December30.png","width":1024,"height":512},{"@type":"BreadcrumbList","@id":"https:\/\/migonline.com\/blog\/2019\/12\/30\/mig-market-watch-december-30th-2019\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/migonline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"MIG Market Watch, December 30th, 2019"}]},{"@type":"WebSite","@id":"https:\/\/migonline.com\/blog\/#website","url":"https:\/\/migonline.com\/blog\/","name":"Mortgage Investors Group","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/migonline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/migonline.com\/blog\/#\/schema\/person\/f7df6ab3b3775912d3bf05a25a1c0fe4","name":"Moneek"}]}},"_links":{"self":[{"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/posts\/4654","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=4654"}],"version-history":[{"count":1,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/posts\/4654\/revisions"}],"predecessor-version":[{"id":4656,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/posts\/4654\/revisions\/4656"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/media\/4657"}],"wp:attachment":[{"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/media?parent=4654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/categories?post=4654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/tags?post=4654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}