Bond Market Update
Market Update
Thursday, April 18, 2019
What's going on and why does it matter?
Mortgage bonds opened flat today as they continue to hover below their 30-day moving average. The retail sales report beat market expectations to the upside across the board, while the initial jobless claims numbers declined from last week. This was the fifth straight week in which claims came out below the market consensus, which indicates growing strength in the US economy. In Europe and Japan, however, the latest economic numbers came out weaker, which is fueling continued concerns about global economic growth. The bond market closes early today and will be closed tomorrow for Good Friday.
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 15 Apr | NY Fed Mfg Index | Apr | 3.70 | 6.70 | 10.10 |
| Tue 16 Apr | Industrial Production | Mar | 0.1% | 0.2% | -0.1% |
| Tue 16 Apr | Capacity Utilization | Mar | 78.2% | 79.1% | 78.8% |
| Wed 17 Apr | Wholesale Inventory | Feb | - | 0.5% | 0.2% |
| Wed 17 Apr | Wholesale Sales | Feb | 0.5% | 0.3% | 0.3% |
| Thu 18 Apr | Initial Jobless Claims | Week of Apr 8 | 196k | 205k | 192k |
| Thu 18 Apr | Retail Sales | Mar | -0.2% | 0.9% | 1.6% |
| Thu 18 Apr | Business Inventories | Feb | 0.8% | 0.4% | 0.3% |
| Fri 19 Apr | Building Permits | Mar | 1.291M | 1.300M | |
| Fri 19 Apr | Housing Starts | Mar | 1.162M | 1.230M |
Julee Felsman
NMLS: 120831
Guaranteed Rate Inc | Workshop Mortgage Team
Corporate NMLS: 2611
juleef1@rate.com
http://www.rate.com/juleef
(503) 799-3711
329 NE Couch St, Rm 328
Portland, Oregon 97232
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