Market Update November 2016

Dated: 11/28/2015

Views: 327

Market Matters
 

MARKET RATES

Mortgage Rate Movement

MOMENTS IN HISTORY

November 22, 1995 – Toy Story is released as the first feature-length film created completely using computer-generated imagery.
November 23, 1988 – Wayne Gretzky scores his 600th NHL goal at the age of 27 years, 302 days, the fastest and youngest in the NHL (and a record that still stands).
November 24, 1932 – The crime lab that is now referred to as the FBI Scientific Crime Detection Laboratory officially opens in Washington, D.C.
November 25, 1979 – Pat Summerall and John Madden broadcast an NFL game together for the first time.
November 26, 1989 – MTV Unplugged, featuring stripped-down acoustical performances by a wide range of artists not usually known for such performances, makes its broadcast premiere.
November 27, 2007 – Brazilian racecar driver Hélio Castroneves and his partner, professional ballroom dancer Julianne Hough, win the fifth season of the TV show “Dancing with the Stars.”
November 28, 1964 – The Shangri-Las score a #1 hit with “Leader Of The Pack.”

Source: DatesInHistory.com, HistoryOrb.com, Wikipedia.org, History.com, & On-This-Day.com

 
 

THE WEEK IN REVIEW

Even with a holiday shortened week, the economic calendar was busy, on top of the many global headlines hitting the tape. On the domestic front, weekly jobless claims were down another 12k. Durable goods orders were strong in October, up 3%. Personal income and spending were about on point, coming in up .4% and up .1% respectively. Consumer confidence fell -1.8% to 91.3. Lastly, new home sales jumped 10.7% for October. All in all, some very positive data, however, the markets are holding steady. 

We will get back to ‘normal’ in the week ahead and we expect interest rates to be around the same levels. For now, the 10yr continues to hover around resistance at 2.23% and we need a break below that point for better rates in the short-term. We wish you and yours a Happy Thanksgiving!

UPCOMING MARKET DATA

November 30 – Chicago PMI
November 30 – Pending Home Sales Index
November 30 – Dallas Fed Mfg Survey
December 1 – Motor Vehicle Sales
December 1 – PMI Manufacturing Index
December 1 – ISM Mfg Index
December 1 – Construction Spending
December 2 – MBA Mortgage Applications
December 2 – ADP Employment Report
December 2 – Productivity and Costs
December 2 – Beige Book
December 3 – Jobless Claims
December 3 – Factory Orders
December 4 – ISM Non-Mfg Index
December 4 – Employment Situation
December 4 – International Trade
 

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
NMLS: 406027

PrimeLending
EHL

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© 2015 PrimeLending, a PlainsCapital Company (NMLS ID: 13649). All loans subject to credit approval. Rates and fees subject to change. Mortgage financing provided by PrimeLending, a PlainsCapital Company. Equal Housing Lender.

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