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Bond Market Update

Market Update

Tuesday, July 16, 2019

What's going on and why does it matter?
Mortgage bond prices are declining this morning after the retail sales report came out stronger than market expectations. Also, the latest earnings results from JP Morgan and Goldman Sachs were better than expected, causing stock prices to improve at the expense of bonds. Even so, several risk factors remain, such as the lack of progress in US-China trade talks and the increasing prospect of the UK crashing out of the European Union with no Brexit deal.

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 Jul NY Fed Mfg Index Jul -8.60 2.00 4.30
Tue 16 Jul Retail Sales Jun 0.5% 0.1% 0.4%
Tue 16 Jul Industrial Production Jun 0.4% 0.1% 0.0%
Tue 16 Jul Capacity Utilization Jun 78.1% 78.1% 77.9%
Tue 16 Jul Business Inventories May 0.5% 0.4% 0.3%
Wed 17 Jul Building Permits Jun 1.299M 1.300M  
Wed 17 Jul Housing Starts Jun 1.269M 1.261M  
Thu 18 Jul Initial Jobless Claims Week of Jul 8 209k 215k  
Fri 19 Jul U of Mich Consumer Sent. Jul 98.2 98.6  

Patrick Glaros

Patrick Glaros
NMLS: 308804
Cardinal Financial, Limited Partnership
Corporate NMLS: 66247
(972) 728-3420
5001 Spring Valley Road, Suite 500W
Dallas, Texas 75244