Bond Market Update
Market UpdateFriday, December 6, 2019
What's going on and why does it matter?
Mortgage bonds opened flat today, and it will be interesting to see if they can remain in positive territory above their 30-day and 100-day moving averages. The jobs report came out today much stronger than market expectations and job growth increased by the most in 10 months. This is attributed to former striking workers at General Motors returning to work, as well as increased hiring in the healthcare industry. Be prepared for some market volatility today as investors digest this news.
What should you do about it?
Lock your rate to be safe.
Economic reports that may impact mortgage rates this week:
|Mon 2 Dec||Construction Spending||Oct||0.5%||0.4%||-0.8%|
|Mon 2 Dec||ISM Mfg PMI||Nov||48.3||49.2||48.1|
|Wed 4 Dec||ADP National Employment||Nov||125k||140k||67k|
|Wed 4 Dec||ISM Non-Mfg PMI||Nov||54.7||54.5||53.9|
|Thu 5 Dec||Initial Jobless Claims||Week of Nov 25||213k||215k||203k|
|Thu 5 Dec||Factory Orders||Oct||-0.6%||0.3%||0.3%|
|Fri 6 Dec||Non-Farm Payrolls||Nov||128k||180k||266k|
|Fri 6 Dec||Unemployment Rate||Nov||3.6%||3.6%||3.5%|
|Fri 6 Dec||Average Earnings||Nov||0.2%||0.3%||0.2%|
|Fri 6 Dec||U of Mich Consumer Sent.||Dec||96.8||97.0||99.2|