Wait until next week to lock you loan!

By
Mortgage and Lending with Finance Of America NMLS #311662

This morning's economic data had little impact on trading.  Weekly Initial Jobless Claims fell by 10K in the latest week to 316K, below the 330K expected.  It was the lowest number since the week ended September 28, but seasonal factors during the holiday season could cause the numbers to bounce around making it difficult for the number crunchers to come up with a true reading.  Durable Orders for October declined by -2%, inline with estimates, pointing towards slower growth towards the end of the year. 

We just gott the November Chicago PMI (9:45) and the final reading for November Consumer Sentiment (10:00).  In addition, the Treasury will be offering $29B 7-Year Notes, which comes after yesterday's average demand for the 5-Year offering. 

And this from renowned economist Elliot Eisenberg, Ph.D- In a sign that household deleveraging may be over, outstanding household debt grew by $127 billion in Q3 and now stands at $11.28 trillion. While down 11% from the peak of $12.7 trillion set in 2008, after essentially 20 straight quarters of deleveraging, this is great news.  Mortgage debt rose by $56 billion, credit card debt by $4 billion, auto loans by $31 billion and student loans by $33 billion.  

 

Trading volumes have been low this week and should be near anemic levels this afternoon as traders escape early to begin the long holiday weekend.  We will started the day Floating, but sentiment  quickly reversed in a low volume environment, so wait until higher volume helps next week. 

Happy Thanksgiving to you and yours!

Posted by

Matt Brady

 

Builder Sales Manager, NMLS ID#311662

(858)342-8659 cell |844-268-1952fax

 

Skyline logo

 

mbrady@skylinehomeloans.com| mattbrady.skylinehomeloans.com    
1455 Frazee Road., Suite 705| San Diego, CA 92108

 

    

 

 

 

BIA SanDiego 15 year Member and P2 Sponsor

 

 

 

BIA SMCBoard Member since 2012

 

 

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Mortgage / Finance
Location:
California
Tags:
mortgage rates
econoomic data

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
411,006

Matt Brady

Lending With Competence And Character
Let me earn your business!
*
*
*
*
Spam prevention