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
NMLS: 216697
Windmill Mortgage Services LLC
Corporate NMLS: 998503
ben@windmillmortgage.com
http://www.windmillmortgage.com
(614) 362-6828
271 S. Liberty Rd., Unit C
Powell, Ohio 43035
