Real Estate Rate Trends

Market Outlook
Friday, September 18, 2009 7:05 AM
Price Trend: Negative Price Volatility: High _________________________________________________________________
Current Conditions: Today’s Economic Data (PST)
FNMA 4.5 GNMA 4.5 10yr Yield
100-21 (-7) 100-30 (-6) 3.437
NONE
_________________________________________________________________
Commentary:
Bonds have started off the morning to the downside. Mortgages have given up almost all of yesterday afternoon’s gains and are very close to yesterday morning’s levels. So, if you took advantage of yesterday’s price change you made a good move.
Next week’s focus will be the FOMC meeting which starts on Tuesday with the policy statement due out on Wednesday. Also on tap next week are more Treasury auctions as well as home sales data.
Have a great weekend!!
This Week’s Economic Calendar (All times Eastern)
Date Time
Event
Survey
Actual
Prior
09/15/2009 08:30
Producer Price Index (MoM)
AUG
0.80%
1.70%
-0.90%
09/15/2009 08:30
PPI Ex Food & Energy (MoM)
AUG
0.10%
0.20%
-0.10%
09/15/2009 08:30
Advance Retail Sales
AUG
1.90%
2.70%
-0.10%
09/15/2009 08:30
Retail Sales Less Autos
AUG
0.40%
1.10%
-0.60%
09/15/2009 08:30
Empire Manufacturing
SEP
15
18.90
12.08
09/15/2009 10:00
Business Inventories
JUL
-0.90%
--
-1.10%
09/16/2009 07:00
MBA Mortgage Applications
11-Sep
--
-8.60%
17.00%
09/16/2009 08:30
Consumer Price Index (MoM)
AUG
0.30%
0.40%
0.00%
09/16/2009 08:30
CPI Ex Food & Energy (MoM)
AUG
0.10%
0.10%
0.10%
09/16/2009 08:30
Consumer Price Index (YoY)
AUG
-1.70%
-1.50%
-2.10%
09/16/2009 08:30
CPI Ex Food & Energy (YoY)
AUG
1.40%
1.40%
1.50%
09/16/2009 08:30 Current Account Balance 2Q -$92.0B - - -$101.5B
09/16/2009 09:15
Industrial Production
AUG
0.60%
0.80%
0.50%
09/16/2009 09:15
Capacity Utilization
AUG
69.10%
69.60%
68.50%
09/16/2009 13:00
NAHB Housing Market Index
SEP
19
--
18
09/17/2009 08:30
Housing Starts
AUG
600K
598K
581K
09/17/2009 08:30
Building Permits
AUG
580K
579K
560K
09/17/2009 08:30
Initial Jobless Claims
12-Sep
555K
545K
550K
09/17/2009 08:30
Continuing Claims
5-Sep
6114K
6230K
6088K
09/17/2009 10:00
Philadelphia Fed.
SEP
8
14.1
4.2