Weekly Rate Watch 11/15/21

By
Mortgage and Lending with Finance Of America NMLS #311662

In the News

 

On Wednesday, the Fed reported an inflation tick up to 6.2%. There was a market sell-off in bonds which led to a repricing for the worst. Inflation doesn’t seem so “transitory,” at least with all the current market forces at play.

 

Here is what’s in the news for this week:

 

Tuesday:

  • Retail Sales Numbers 

Wednesday:

  • Housing starts 

Thursday:

  • Initial Jobless Claims

Chart Check

We didn’t break/settle above the resistance line. Instead we dropped in a major way. You can see the massive red candlestick the day CPI numbers were reported.

 

 

I mentioned how I wanted to see us break above the top resistance line before any cheering took place and how I thought a retest of the middle support would occur. It blasted through that, now looking to retest the 6 month lows.

Last week I said, “I’m locking rates in. With the supply chain issues currently in play, CPI numbers Wednesday should show prices have increased.” Nothing has changed from this view. Although I may get lucky, I’m not looking to float rates these days.

Please feel free to reach out with any questions with regards to rate and my thoughts on them. I’m more than happy to help out any way I can.

Posted by

Matt Brady

Builder Sales Manager, NMLS ID#311662

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

mabrady@financeofamerica.comfamadvisor.com/matthewbrady   
8885 Rio San Diego Dr │ Suite 201  San Diego, CA 92108     

 

BIA SanDiego 19 year Member and P2 Sponsor

 

BIA SMCBoard Member since 2012

 

 

 

 

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