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
NMLS: 308804
Cardinal Financial, Limited Partnership
Corporate NMLS: 66247
patrick.glaros@cardinalfinancial.com
http://PatrickGlaros.com
(972) 728-3420
5001 Spring Valley Road, Suite 500W
Dallas, Texas 75244
