«

»

Nov 16

Mortgage Rate Watch November 16, 2012

No change in mortgage interest rates over Wednesday’s pricing.  The Industrial Production Report was released this morning and the index declined very slightly when the experts were expecting a slight improvement. 

I believe the storm has been more of an influence on the markets than the recent financial reports.

The last quote I received this morning for the bond market showed a little improvement which is a good sign on a Friday.  Over the years it seems to me Friday’s are usually off days, investors taking money out of the market over the weekend in case we attack Canada or something silly like that.

 

Next week is going to be a light one for financial reports, home sales will be released on Monday, and housing starts are due Tuesday, sounds backwards to me.  Ironic but Jobless Claims and Consumer Sentiment are both due out Wednesday, as are the Leading Indicators. 

 

2:00 update, Mortgage Backed Securities are up 8/32 which is good for interest rates, when bonds go up interest rates go down.  That is not enough change to impact rates yet, but at least they are headed in the right direction.

 

There will be fewer hours of trading next week, the market is closed Thursday and half a day Friday in observance of Turkey Day.

 

Related Posts