April 30th, 2018 Market Summary - Reggie Graham, Caliber Home Loans

Last week saw a bit of a panic in mortgages as the U.S. 10yr briefly pushed through 3.00% early in the week. By the end of the week, however, this had settled back down and the 10yr sat at 2.957%.

The highlight this week is Wednesday’s Fed meeting and announcement.  Also, this week we get PCE inflation data on Monday and on Friday the April employment report will be released. The consensus on the Fed meeting is for no change in policy, which is a view also shared by the market, with futures pricing implying odds of just 5% for a hike. There is no press conference so it’s the statement that will be of note.

Economic Calendar for the week of 04/30/2018 to 05/04/2018:

Monday: Personal Income, Personal Spending, PCE, Chicago Purchasing Manager Index, Pending Home Sales, and Dallas Fed Manufacturing Activity

Tuesday:  ISM Manufacturing, ISM Prices Paid, ISM New Orders, and Wards Total Vehicle Sales

Wednesday: MBA Mortgage Applications and FOMC Rate Decision

Thursday: Initial Jobless Claims, Continuing Claims, Nonfarm Productivity, Bloomberg Consumer Comfort Index, Markit US Services PMI, Durable Goods Orders, and Factory Orders

Friday: Change in Nonfarm Payrolls, Change in Private Payrolls, Change in Manufacturing Payrolls, Unemployment Rate, Underemployment Rate, Average Hourly Earnings and Labor Force Participation Rate

                                  Reggie Graham - Sales Manager   NMLS @#230060      Direct 678-369-2210

100 World Dr., Ste. 103, Peachtree City, GA 30269      rgraham@caliberhomeloans.com