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Bond Market Update

Market Update

Tuesday, September 18, 2018

What's going on and why does it matter?
Mortgage bonds are hovering near their worst levels of the year as financial markets digest the latest developments in the US-China trade war. President Trump officially announced that he would move forward with tariffs on $200 billion in China imports and China announced they would retaliate. The US tariffs will start at 10% next week, and rise to 25% on January 1, 2019. Click here to read the President's statement. In other news, the economic calendar is light today, and the Fed is scheduled to purchase up to $680 million of 30-year conventional mortgage bonds.

What should you do about it?
Lock your rate to be safe.


Economic Calendar

Economic reports that may impact mortgage rates this week:

Date Report Period Prior Est. Actual
Mon 17 Sep NY Fed Mfg Index Sep 25.6 23.0 19.0
Wed 19 Sep Building Permits Aug 1.303M 1.310M  
Wed 19 Sep Housing Starts Aug 1.168M 1.235M  
Thu 20 Sep Initial Jobless Claims Week of Sep 10 204k 210k  
Thu 20 Sep Existing Home Sales Aug 5.34M 5.35M  

Matt Chao

Matt Chao
NMLS: 1428557
VIP Independend Mortgage, Inc.
Corporate NMLS: 145502
matt.chao@vipmtginc.com

(858) 216-2368
3919 30th St, Suite 7
San Diego, California 92104

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