Mortgage rates are continuing to hover in a tight range. We saw last week in the Freddie Mac PMMS that they moved a little bit lower, but that’s not a trend we expect to sustain over time. Read on for more details.
Where are mortgage rates going?
Investors Eye Jackson Hole Symposium
Here we go with another week. It’s a fairly light economic calendar today and tomorrow, but things start to pick up as we hit the half-way point. The big event on the horizon is the Jackson Hole Symposium on Thursday and Friday.
That event, put on by the Kansas City Federal Reserve, will be closely watched by financial market participants around the world.
With the Fed widely expected to raise the nation’s benchmark interest rate, the federal funds rate, by a quarter-point as early as next month, investors are eager for more confirmation that this will take place, as well as clues on what else might happen in the coming months.
Ahead of that gathering we will get the FOMC minutes from their meeting a few weeks back, which could give some insight into the Fed’s outlook, potentially providing some talking points for officials in Wyoming.
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Rate/Float Recommendation
Lock now before move even higher
With the Federal Reserve gearing up to raise the nation’s benchmark interest rate, the expectation is that mortgage rates will gradually rise over the coming weeks and months. In the near term, we could see rates tick up if there are any hawkish statements that come out of the Jackson Hole Symposium.
Learn what you can do to get the best interest rate possible.
Today’s economic data:
- Atlanta Fed President Raphael Bostic at 11:00am
Notable events this week:
Monday:
- Fedspeak
Tuesday:
- Nothing
Wednesday:
- Existing Home Sales
- EIA Petroleum Status Report
- FOMC Minutes
Thursday:
- Jobless Claims
- FHFA House Price Index
- PMI Composite Flash
- New Home Sales
- Jackson Hole Symposium
- Kansas City Fed Mfg Index
Friday:
- Fedspeak
- Jackson Hole Symposium
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from Total Mortgage Blog https://ift.tt/2MCbuKu
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