Economic News...There was really only one important report on tap for what was a week that lacked any significant economic news. Weekly Jobless Claims improved for the third consecutive week. The market was expecting 335K new claims but was greeted with 323K. It was not that long ago that 400K was the norm. The four week moving average also continues to improve and has once again moved to a recovery low.
To all the Mom’s out there...Have a Happy Mother’s Day!!!
Mortgage Markets...Mortgage rates have been trending higher as the week comes to a close. The 10 Year Note is currently trading at 1.898% which is up from last week’s closing yield of 1.743%. The yield stood at 1.668% two weeks ago.
Next Week’s Market Moving Reports... Monday:Retail Sales Wednesday:Producer Price Index, Industrial Production, Housing Market Index Thursday: Jobless Claims, Consumer Price Index, Housing Starts Friday:Consumer Sentiment
While I do not originate mortgages, I make it a habit to keep abreast of market & home loan conditions. If you are thinking of purchasing a home the first step is to meet with a mortgage professional. I will gladly provide several top-notch Bay Area advisers for your review if you are in need of a referral.
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