Bond Market Update
Bond Market Update
Market Update
Friday, October 22, 2021What's going on and why does it matter?
Mortgage bond prices are continuing to deteriorate while stocks remain at or near record highs despite mixed earnings and more data highlighting inflation and supply-chain risks. The bond market is also getting ready to absorb a large supply of government bonds scheduled to hit the market next week, which may pressure bond prices. The Fed is scheduled to purchase up to $5.833 billion of mortgage bonds today.
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 18 Oct | Industrial Production | Sep | 0.4% | 0.2% | -1.3% |
| Mon 18 Oct | Capacity Utilization | Sep | 76.4% | 76.5% | 75.2% |
| Tue 19 Oct | Building Permits | Sep | 1.721M | 1.680M | 1.589M |
| Tue 19 Oct | Housing Starts | Sep | 1.615M | 1.620M | 1.555M |
| Thu 21 Oct | Initial Jobless Claims | Week ending Oct. 16 | 293k | 300k | 290k |
| Thu 21 Oct | Philly Fed Business Index | Oct | 30.7 | 25.0 | 23.8 |
| Thu 21 Oct | Existing-Home Sales | Sep | 5.88M | 6.06M | 6.29M |