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

By
Mortgage and Lending with Silverton Mortgage NMLS #230060
                                                                         Market Commentary 

 

 

 

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

 

Key Market Indicators

       
 

Week Ending

Week Ending

Week Ending

Week Ending

 

(4/27)

(4/20)

(04/13)

(04/06)

FNMA 4.0 Coupon

101.797

101.688

102.25

102.578

Dow Jones

24,313

24,463

24,360

23,932

S&P 500

2,669

2,670

2,656

2,604

Gold $/oz

1,324

1,337

1,346

1,333

10 Year Yield

2.957

2.960

2.827

2.774

 

 

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

 

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

 

                                        Apply Online at www.CaliberHomeLoans.com/Rgraham 

Comments (2)

Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

Hi Reggie, thanks for the update and for sharing with us in AR Land.

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