April 21st, 2017 6:43 PM by Dana Bain
Market Comment
Mortgage bond prices finished the week near unchanged which kept rates steady. Rates started the week lower Monday morning but the improvements were erased by Thursday. The NAHB Housing Market Index printed at 68 versus the expected 70. The index is based on a monthly survey of members belonging to the National Association of Homebuilders (NAHB) is designed to measure sentiment for the U.S. single-family housing market. Weekly jobless claims were near expectations. Leading economic indicators rose 0.4% versus the expected 0.3% increase. The Philadelphia Fed survey showed strong economic activity in the Mid-Atlantic region. Mortgage interest rates finished the week unchanged to better by approximately 1/8 of discount point despite some volatility.LOOKING AHEAD
EconomicIndicator
ReleaseDate & Time
ConsensusEstimate
Analysis
Tuesday, April 25,10:00 am, et
Up 0.4%
600K
126
Thursday, April 27, 8:30 am, et
Up 1.8%
Thursday, April 27,8:30 am, et
Friday, April 28,8:30 am, et
Up 0.5%
Friday, April 28,10:00 am, et
Employment Cost Index
The employment cost index is a quarterly report issued by the Department of Labor. The report measures the growth of wages, salaries, and benefits costs over a certain period of time. Though ECI figures are usually weeks old, the data remains the best indicator of employment price pressures considering it factors employees’ total compensation.
If wage pressures become evident, higher expectations of inflation also tend to arise. However, increasing compensation does not necessarily lead to increased inflationary pressures. Oftentimes, increased productivity enables employers to increase compensation without increasing the costs of their goods or services. Be cautious heading into this release.
Dana Bain & Robin Dunbar BainPremiere Mortgage Services Inc.www.BainMortgage.comhttps://danabain.mortgagemapp.com978-422-2311Mortgage In Massachusetts & New Hampshire for over 30 years. Most Competitive mortgage rates available. Find Us On LinkedIn & Face Book www.Bainmortgage.com/DanaBain-PremiereMortgage-Reviews
Want to know if a home is still on the market, or if the price has changed? We can help. Simply fill out the information below and with no obligation to you we'll get back to you with your requested information. We guarantee your privacy.