Shall we take a quick look at the economic news that will drive mortgage rates this week? (I'd rather focus on that than the cold weather we're about to have!)
The biggest bond rate event this week will be Wednesday's Fed meeting. Investors have priced in a half-point rate cut, and they are waiting to see if the Fed will take any other actions to boost the economy. The most important economic data will be Thursday's Gross Domestic Product (GDP) report. GDP is the broadest measure of economic activity. In addition, New Home Sales will come out at 9 am this morning. Durable Orders, another important indicator of economic activity, is scheduled for Wednesday. Personal Income and Chicago PMI will be released on Friday. Consumer Confidence and Consumer Sentiment will round out the economic data next week.
If you have any questions about this information, please call or e-mail me. I'm glad to help. Have a great week!
As a CMPS, my job is to make sure my clients have the best loan, at the best rate, and that they fully understand their loan! "By closing loans, I open doors".
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