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Mortgage Market Summary

By Coleen Donovan

Real Estate Agent with Keller Williams Realty Frisco

January 24, 2011 03:44 PM

It could be a busy week for mortgage pricing. Mortgages and bondshave another round of treasury auctions to digest this week along with the FOMC rate decision announced on Wednesday afternoon. The Fed is not expected to take any action at its two-day meeting, but it could comment on the economy and inflation outlook. Obama gives his State of the Union address Tuesday.

As stocks climb to multi-year highs, investors are increasingly expecting a pull back, despite the promise of a good earnings season. However, many traders expect the S&P 500 to test the psychologically important 1300 level.

Looking ahead to this week, fourth quarter GDP, released Friday, is one of the big numbers of the week. A batch of housing reports are expected, including the S&P Case Shiller home price index on Tuesday; new home sales on Wednesday and pending home sales on Thursday. Durable goods are reported Thursday, as are weekly jobless claims. Consumer confidence is released Tuesday and consumer sentiment is issued Friday. The employment cost index is also released Friday.

If you know of someone looking to buy or sell a home in the DFW Metroplex please have them give me a call!