Weekly Economic Indicators
June 24, 2008
Consumer Confidence June | [TUE] | E 57.0 | P 57.2 | modest
Durable Goods Orders May | [WED] | E 0.0 | P -0.5% | modest
New Home Sales May | [WED] | E 510,000 | P 526,000 | modest
Crude Inventories 6/21 | [WED] | P -1,242,000 | modest
Next Fed Meeting | [WED] | elevated impact
Initial Jobless Claims 6/21 | [THU] | E 375,000 | P 381,000 | modest
Gross Domestic Product Q1 | [THU] | E 1.0% | P 0.9% | modest
GDP Chain Deflator Q1 | [THU] | E 2.6% | P 2.6% | modest
Existing Homes Sales May | [THU] E 4,900,000 | P 4,890,000 | modest
Personal Spending May | [FRI] | E 0.7% | P 0.2% | modest
Personal Consumption Expenditures May | [FRI] | E 0.2% | P 0.1% | elevated impact
Core PCE Year | [FRI] | P 2.1% | elevated impact
Personal Income May | [FRI] | E 0.4% | P 0.2% | modest
Mortgage Rates Predictions
June 17, 2008
June 13, 2008 | Mortgage Rates are headed down…
PPI comes in red hot with Food and Fuel prices pushing inflation. The Core PPI hit expectations and held onto the 3% year over year gains. Inflation with no hope of the Fed bailing out investors should help push bond prices higher as investors move to a flight to quality in Mortgage Backed Securities. Mortgage Bonds have hit a floor of support and bounced Monday and Friday off. This usually signals a reversal.
Economic Indicators
June 17, 2008
Producer Price Index May | 1.4% | E 1.0% | P 0.2% | modest
Core PPI May | 0.2% | E 0.2% | P 0.4% | modest
Building Permits May | 969,000 | E 950,000 | P 978,000 | modest
Housing Starts May | 975,000 | E 980,000 | P 1,032,000 | modest
Capacity Utilization May | 79.4 | E 79.7 | P 79.7% | modest
Industrial Production May | -0.2% | E 0.1% | P -0.7% | modest
Empire State Index for June
June 16, 2008
Empire State Index June | -8.7 | E -2.4 | P -3.2 | modest
Upcoming Economic Reports
June 16, 2008
Empire State Index June | [MON] | E -2.4 | P -3.2 | modest
Producer Price Index May | [TUE] | E 1.0% | P 0.2% | modest
Core PPI May | [TUE] | E 0.2% | P 0.4% | modest
Building Permits May | [TUE] | E 950,000 | P 978,000 | modest Read more
St. Louis Mortgage Rates
June 13, 2008
St Louis Best Mortgage Rates June 13, 2008
30 Fixed/apr | 6.625% /6.725%
Mortgage Rates Predictions
June 13, 2008
June 13, 2008 | Mortgage Rates are trying to come down…
CPI reported worse than expectations signaling even more inflation. Consumer Sentiment in June was a horrible 56.7! Mortgage Bonds are were all over the place this morning and currently set +31bp @ 100.03. Hopefully we have seen the floor for Mortgage Backed Securities and we begin the “leash effect” Read more
Economic Indicators
June 13, 2008
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Consumer Price Index [CPI] May | 0.6% | E 0.5% | P 0.2% | elevated
Core CPI May | 0.2% | E 0.2% | P 0.1% | elevated
Consumer Sentiment Index June | 56.7 | E 57.5 | P 59.8 | modest
St. Louis Mortgage Rates
June 12, 2008
St Louis Best Mortgage Rates June 12, 2008
30 Fixed/apr | 6.500% /6.600%
30 FHA/apr | 6.750% /7.500%
15 Fixed/apr | 6.125% /6.225%
7yr Arm/apr | 7.125% /7.225%
5yr Arm/apr | 6.250% /6.350%
3yr Arm/apr | 6.250% /6.350% Read more
Mortgage Rates Predictions
June 12, 2008
June 12, 2008 | Mortgage Rates continue to climb on Retail Sales numbers…
After yesterdays Mortgage Bond rally to push rates lower, today’s very strong Retail Sales numbers for May quickly reversed the momentum. Retail Sales in May reported a 1% increase and without Auto Sales the increase was 1.2%. Read more
