Bond Market Update
Mortgage pricing is better than it was yesterday
Source: Thomson Reuters
Market Update
Friday, December 18, 2015What's going on and why does it matter?Mortgage bond prices have rebounded on indications that the Federal Reserve is likely to continue its bond-buying program throughout 2016. The Fed has been the biggest buyer of mortgage bonds in the market, so mortgage pricing has improved slightly on the news. Bond prices are near their technical levels of resistance, so the uptick in bond prices may be short-lived. All-in-all, it should be a relatively quiet day in the markets today.
What should you do about it?
Enjoy the uptick in bond prices, but be prepared to lock your rate if the market changes directions.
Economic Calendar
Economic reports that may impact mortgage rates this week:| Date | Report | Period | Prior | Estimate | Actual |
| Tue 15 Dec | Core CPI | Nov | +0.20% | +0.20% | +0.20% |
| Wed 16 Dec | Building Permits | Nov | 1,150,000 | 1,150,000 | 1,289,000 |
| Wed 16 Dec | Housing Starts | Nov | 1,062,000 | 1,135,000 | 1,173,000 |
| Wed 16 Dec | Fed Funds Rate | - | 0.125% | 0.375% | 0.375% |
| Thu 17 Dec | Initial Jobless Claims | Week of Dec 13 | 282,000 | 275,000 | 271,000 |
Jay Sibley
NMLS Number: 383991
Sibley Mortgage Group, LLC
Corporate NMLS Number: 1041547
jay@sibleymortgage.com
(321) 689-0089
919 Timber Isle Dr
Orlando, Florida 32828
NMLS Number: 383991
Sibley Mortgage Group, LLC
Corporate NMLS Number: 1041547
jay@sibleymortgage.com
(321) 689-0089
919 Timber Isle Dr
Orlando, Florida 32828
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