Here we go with another week. We’ve got several speaking engagements from Federal Reserve officials this week as well several important economic reports out.
That means there will be multiple chances for current mortgage rates to adjust this week. Read on for more details.
Where are mortgage rates going?
Fed speakers in focus today
It’s been a while since we’ve had a heavy week of speaking engagements from Federal Reserve officials, but that’s what we’re getting this week with at least one speaking event every day.
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Kicking things off for the week we have three speaking engagements from the Boston, Atlanta, and San Francisco Fed Presidents.
Of course, financial market participants will be looking for clues about the next increase to the nation’s benchmark interest rate, the federal funds rate.
That rate got increased by a quarter point at their previous meeting in December, and the expectations are currently for multiple increases in 2018.
However, any projections about future monetary policy decisions are subject to being altered and adjusted as fresh data makes its way into the equation.
Last Friday, we did get the monthly jobs report for December. That report is always a key event each month that investors and policymakers alike turn to when reassessing what course of action should be taken.
While the headline reading came in well under the mark that analysts had expected, we did see some strength in average hourly earnings, resulting in a bit of a give and take report that didn’t have much effect on the markets.
It will be interesting to see how exactly Fed officials react to the current economic situation.
Aside from the many Fed speaking engagements, we also have a few notable economic reports out later this week including the Producer Prices, Consumer Price Index, and Retail Sales.
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Rate/Float Recommendation
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Mortgage rates are expected to rise in the long-run, which means that most borrowers will be better off by locking in a rate sooner rather than later.
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Today’s economic data:
Fedspeak
- Boston Fed President Eric Rosengren at 4:00pm
- Atlanta Fed President Raphael Bostic at 12:40pm
- San Francisco Fed President John Williams at 1:35pm
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Notable events this week:
Monday:
- Fedspeak
Tuesday:
- Fedspeak
- JOLTS
Wednesday:
- Import and Export Prices
- Fedspeak
- EIA Petroleum Status
- 10-Yr Note Auction
Thursday:
- Jobless Claims
- PPI-FD
Friday:
- Consumer Price Index
- Retail Sales
- Business Inventories
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from Total Mortgage Blog http://ift.tt/2m8Gvq1
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