Market Review July 23rd

Dated: 07/23/2016

Views: 214


 
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This Week in Review

 

For the week ending July 23rd – We’ve seen a bit of a corrective trading pattern in the bond market over the past week and Treasury yields have inched higher. 10yr yields have approached the high-end of our recent trading range from ~1.52%-1.65%, however, one positive note is that they have been able to hold below 1.65% and because of overbought conditions on technical charts, we believe that the 10yr and MBS pricing are due for a bounce. The question now is what is going to spark that move lower in interest rates again.

Overall, it’s been a fairly quiet week on the data front with one highlight being an unexpected rise in existing home sales in June. Sales have now improved in four straight months, and six out of the last seven. Looking ahead to next week, it’s going to be a busy one with top tier data such as Consumer Confidence, New Homes Sales, Durable Goods, and not to mention we have a FOMC 2-day meeting starting on Tuesday. Next week is surely going to provide some market movement for us and that should give us some more insight on where rates are headed in the short-term.

 

Upcoming Market DataMonday - July 25
 
Dallas Fed Mfg Survey
 
Tuesday - July 26
 
S&P Case-Shiller HPI
New Home Sales
Consumer Confidence
 
Wednesday - July 27
 
MBA Mortgage Applications
•  Durable Goods Orders
Pending Home Sales Index
FOMC Meeting Announcement
 
Thursday - July 28
 
International Trade in Goods
Jobless Claims
Bloomberg Consumer Comfort Index
 
Friday - July 29
 
GDP
Employment Cost Index
•  Chicago PMI
•  Consumer Sentiment
 
Featured Blog

 

14 Tips To Help Newlyweds Build A Successful Financial Future

PrimeLending, a PlainsCapital Company

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CALL TODAY TO DISCUSS THIS WEEK'S MARKET TRENDS.
 
 
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  Jason Kaiman
  Production Manager
  NMLS: 406027
  Office: 515-418-9608
  Cell: 515-205-5244
  10647 Justin Drive
  Urbandale, IA 50322
 
jkaiman@primelending.com
lo.primelending.com/jkaiman

 

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All loans subject to credit approval. Rates and fees subject to change. Mortgage financing provided by PrimeLending, a PlainsCapital Company. Equal Housing Lender. © 2016 PrimeLending, a PlainsCapital Company (NMLS: 13649).

 

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