Market Update January 16th

Dated: 01/16/2016

Views: 254

Market Matters
 

MARKET RATES

Mortgage Rate Movement

FEATURED BLOG POST:

DID YOU HEAR THAT?
How to Identify House Pests In Your Attic & Walls

2016 Donation Deduction Intentions

Once, I was convinced there was a horse in my attic. Ludicrous, I know! But when I hear unexplained noises that go bump in the night, my imagination can get the better of me. After a visit from my local pest control service, I learned that the "horse trotting" noises were likely caused from a raccoon jumping down into my attic from a hole on the edge of my roof. There wasn’t a lot of insulation at that entry point, so when he thumped onto the plywood and ran to his spot, I heard "horse."
Do you hear strange noises coming from your attic or walls? If so, here's some information that can help you identify what type of critters are taking up residence within your home. … read more

 
 

THE WEEK IN REVIEW

We saw further weakness in global equities heading into Friday’s session. Adding to the sharper declines in Japan, China, and Europe, WTI crude oil is now trading under $30/barrel. All of this, combined with weaker economic data, has Treasury yields continuing to rally as the ongoing volatility in global equities has markets questioning additional rate hikes this year. 
We did see some stronger results from U.S. banks on Friday, but with the global situation casting a larger shadow, equity markets have fallen further into the red and look to finish out the week under 16k on the big board. 10s are on the verge of trading below 2% again, while MBS levels continue to trade to better levels. Technically, any close below 2% on the 10yr now points to a ~1.90% handle at first glance.
Looking the other way, until we see a stronger trade back up through the 2.13-2.16% range, it's game on for us mortgage goers! As we look to the week ahead, we would expect much of the same trading action to continue as further declines in stocks are expected.

UPCOMING MARKET DATA

January 19 – Housing Market Index
January 20 – MBA Mortgage Applications
January 20 – Consumer Price Index
January 20 – Housing Starts
January 21 – Jobless Claims
January 21 – Philadelphia Fed Business Outlook Survey
January 21 – Bloomberg Consumer Comfort Index
January 22 – PMI Manufacturing Index Flash
January 22 – Existing Home Sales
 

CALL TODAY TO DISCUSS THIS WEEK'S MARKET TRENDS.


Jason Kaiman
Production Manager
Direct: 515.418.9608     Mobile: 515.205.5244 
jkaiman@primelending.com
lo.primelending.com/jkaiman
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PrimeLending
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