East Bay Mortgage Update for March 15th
Cari & I work in conjunction to post the market updates three times a week on Monday, Wednesday & Friday....Have a great day! ~Doug
Beginning of the Week Update
Economic News: The Industrial Production numbers increased mainly due to higher utilities output relating to the weather. Last week did not give us much market moving data but this week will. Keep a close eye on the Consumer Price Index (CPI) and the Producer Price Index (PPI). These will both give us the near term view of the inflation picture.
Mortgage Markets: The 10 year note is trading around 3.70% and has pricing about .125 better in fee from Friday's closing. The Mortgage Backed Security Market is stable and we now have two weeks until the FED ceases the MBS purchasing program. If you are refinancing or closing on a new home in the next 21 days now is a good time to consider locking in your rate.
Upcoming This Week: Monday: Housing Market Index. Tuesday: Housing Starts, FOMC Meeting Announcement. Wednesday: Producer Price Index. Thursday: Consumer Price Index, Jobless Claims.
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