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Finance Market Update - Week of February 18, 2008
Brentwood TN Real Estate
Mortgage bond prices fell last week pushing mortgage interest rates significantly higher. Stock strength the beginning of the week hurt mortgage bonds. Stronger than expected retail sales, shocked the market. The weakness was compounded as investor concerns about exposure to mortgage bond risk grew. Fed Chairman Bernanke expressed concerns about economic growth but his remarks did little to help mortgage bonds.
For the week, interest rates on government and conventional loans rose by about 1 and 3/4 of a discount point.
The consumer price index data Wednesday will be the most important event this week. The Fed minutes, housing starts, and leading economic indicators also have the real potential to cause mortgage interest rate volatility. Be cautious Tuesday as trading resumes following the holiday.
Economic Factors
Economic Indicator Release Date Time Consensus Estimate Analysis Presidents Day Monday, Feb. 18, 2008 None  Important. Shortened trading week may lead to mortgage interest rate volatility as trading resumes. Consumer Price Index Wednesday, Feb. 20, 2008 Up 0.3%, Core up 0.2%  Important. A measure of inflation at the consumer level. Lower than expected increases may lead to lower rates.
Housing Starts Wednesday, Feb. 20, 2008 Down 0.5%  Important. A measure of housing sector strength. Larger ... more

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