Market Update November 21st

Dated: 11/24/2015

Views: 233

Market Matters
 

MARKET RATES

Mortgage Rate Movement

MOMENTS IN HISTORY

November 15, 1971 – Intel releases the world's first commercial single-chip microprocessor, the 4004.
November 16, 1914 – The Federal Reserve Bank of the United States officially opens.
November 17, 2003 – Actor and former bodybuilder Arnold Schwarzenegger is sworn in as the 38th governor of California at the State Capitol in Sacramento.
November 18, 1963 – The first push-button telephone goes into service.
November 19, 1998 – Vincent van Gogh's Portrait of the Artist Without Beardsells at auction for $71.5 million in New York.
November 20, 1985 – Microsoft releases Windows 1.0.
November 21, 1976 – Rocky, starring Sylvester Stallone as the underdog prizefighter Rocky Balboa, debuts in New York City. The box-office hit received ten Academy Award nominations.

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

 
 

THE WEEK IN REVIEW

The Federal Open Market Committee minutes were released on Wednesdaystating that a rate hike in December is still a possibility. Members agreed that economic, labor market, and inflation conditions for a move could be met by then, but want to hold off on future increases until international financial conditions have eased.

The 10 year treasury has been trading around 2.24 the past few days. If we see a close at or below 2.19 then we should continue to see lower rates.

UPCOMING MARKET DATA

November 23 – Chicago Fed National Activity Index
November 23 – PMI Manufacturing Index Flash
November 23 – Existing Home Sales
November 24 – GDP
November 24 – S&P Case-Shiller HPI
November 24 – Consumer Confidence
November 25 – MBA Mortgage Applications
November 25 – Durable Goods Orders
November 25 – Jobless Claims
November 25 – Personal Income and Outlays
November 25 – FHFA House Price Index
November 25 – PMI Services Flash
November 25 – New Home Sales
November 25 – Consumer Sentiment
 

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
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