Market Update for the week of May 26th - 05/26/08 07:56 AM
This holiday shortened week brings us the release of six important economic reports or news releases. Two of the six are considered to be of high importance to the bond market and mortgage pricing with one being of low importance. The remaining reports are considered to be of moderate importance to the markets. The financial and mortgage markets are closed tomorrow in observance of the Memorial Day holiday and will reopen Tuesday morning.The Conference Board will start the week's releases by posting their Consumer Confidence Index (CCI) at 10:00 AM Tuesday. This is a very important release that measures consumer willingness … (0 comments)

Market Update for the week of May 19th - 05/19/08 06:51 AM
This week brings us the release of only three pieces of economic news in addition to the minutes from the last FOMC meeting. Only one of those three can be considered of high importance to the markets and mortgage rates, so we may see a fairly calm week for mortgage rates. The first data comes tomorrow morning with the release of April's Leading Economic Indicators (LEI) at 10:00 AM ET. This Conference Board report attempts to measure economic activity over the next three to six months. It is expected to show no change from March's reading, meaning that economic activity is … (1 comments)

Market Update for the week of May 11th - 05/12/08 07:35 AM
There are several important pieces of economic news scheduled to be released this week, but two stand out above the others. There are a total of five reports scheduled for release, so it can be considered a fairly active week. There is no relevant data due out tomorrow, so expect the stock markets to help drive bond trading and mortgage rates. The first piece of data is the release of April's Retail Sales data early Tuesday morning. This is an extremely important report for the financial markets as it measures consumer spending. Since consumer spending makes up two-thirds of the U.S. … (2 comments)

Market Update for the week of May 5th - 05/05/08 04:50 PM
Monday's bond market has opened fairly flat despite stock weakness. The major stock indexes are showing losses with the Dow down 53 points and the Nasdaq down 6 points. The bond market is currently down 3/32, which will likely push this morning's mortgage rates higher by approximately .125 of a discount point over Friday's rates.This week is very light in terms of economic releases scheduled to be posted. There are actually three reports scheduled that are worthy of addressing, but none of them are considered to be highly important to bonds and mortgage rates. The Institute for Supply Management (ISM) Services … (0 comments)

 
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Don Grimes

Don Grimes

Okemos, MI

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Michigan Mutual Mortgage

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