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Bond Market Update

Market Update

Friday, October 19, 2018

What's going on and why does it matter?
Mortgage bonds opened lower this morning after bumping up against their 10-day moving average again in yesterday's trading session. Even so, risk appetite seems to be muted in the financial markets as investors remain concerned about Brexit negotiations, global trade tensions and political tensions between the West and Saudi Arabia over a missing journalist. Adding to the market's concerns are tensions in Europe over Italy's non-compliance with European budget rules. The European Commission sent Italy a formal letter with a reply required by Monday. In other news, today's economic calendar is light with the existing home sales report due out later this morning.

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 Oct NY Fed Mfg Index Oct 19.00 19.00 21.1
Mon 15 Oct Retail Sales Sep 0.1% 0.6% 0.1%
Mon 15 Oct Business Inventories Aug 0.6% 0.5% 0.5%
Tue 16 Oct Industrial Production Sep 0.4% 0.2% 0.3%
Tue 16 Oct Capacity Utilization Sep 78.1% 78.2% 78.1% 
Tue 16 Oct JOLTS Job Openings Aug 6.939M - 7.136M 
Wed 17 Oct Building Permits Sep 1.249M 1.280M 1.241M
Wed 17 Oct Housing Starts Sep 1.282M 1.228M 1.201M
Thu 18 Oct Initial Jobless Claims Week of Oct 8 214k 212k 210k
Fri 19 Oct Existing Home Sales Sep 5.34M 5.30M  

Ben Hulshof

Ben Hulshof
NMLS: 216697
Windmill Mortgage Services LLC
Corporate NMLS: 998503
(614) 362-6828
271 S. Liberty Rd., Unit C
Powell, Ohio 43035