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Bond Market Update

Market Update

Friday, December 8, 2017

What's going on and why does it matter?

The closely-watched jobs report came out this morning much stronger than market expectations, with 228,000 jobs created last month vs. market expectations of 198,000.  This, coupled with the progress made overnight in the Brexit negotiations between Great Britain and the European Union, could cause stock prices to improve and mortgage pricing to get worse today. The Fed is scheduled to purchase up to $1.405 billion of GNMA mortgage bonds today, which may help.

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 11 Dec JOLTS Job Openings Oct 6.09M 6.09M  
Tue 12 Dec PPI final demand Nov 0.4% 0.3%  
Wed 13 Dec Core CPI Nov 0.2% 0.2%  
Wed 13 Dec Fed Funds Target Rate - 1.25% 1.5%  
Thu 14 Dec Initial Jobless Claims Week of Dec 4 236k 240k  
Thu 14 Dec Retail Sales Nov 0.2% 0.3%  
Thu 14 Dec Business Inventories Oct 0.0% -0.1%  
Fri 15 Dec NY Fed Mfg Index Dec 19.4 18.4  
Fri 15 Dec Industrial Production Nov 0.9% 0.3%  
Fri 15 Dec Capacity Utilization Nov 77.0% 77.2%  
Fri 15 Dec Mfg Output Nov 1.3% 0.3%  

Matt Chao

Matt Chao
NMLS Number: 1428557
VIP Independend Mortgage, Inc.
Corporate NMLS Number: 145502

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