Brentwood TN Homes-Finance Market Update Wk of June 23rd, 2008
Brentwood TN Homes
Mortgage bond prices rose pushing mortgage interest rates lower. Inflation fears were tamed a bit the early portion of the week as the core producer price index came in exactly as expected. Oil prices remained volatile, but did not push significantly higher. Stocks took a beating, which helped bonds post some nice gains. The DOW dropped below 12,000.
Economic Factors
Economic Indicator
Release Date Time
Consensus Estimate
Analysis
Consumer Confidence
Tuesday, June 24, 2008
57.0
Important. An indication of consumers' willingness to spend. Weakness may lead to lower mortgage rates.
Durable Goods Orders
Wednesday, June 25, 2008
Unchanged
Important. An indication of the demand for
New Home Sales
Wednesday, June 25, 2008
Down 3.0%
Important. An indication of economic strength and credit demand. Weakness may lead to lower rates.
Fed Meeting Adjourns
Wednesday, June 25, 2008
No change
Important. Few expect the Fed to change rates, but some volatility may surround the adjournment of this meeting.
Existing Home Sales
Thursday, June 26, 2008
Up 1.4%
Low importance. An indication of mortgage credit demand. Significant weakness may lead to lower rates.
5-year Treasury Note Auction
Thursday, June 26, 2008
None
Important. Notes will be auctioned. Strong demand may lead to lower mortgage rates.
Personal Income and Outlays
Friday, June 27, 2008
Income up 0.4%, Outlays up 0.7%
Important. A measure of consumers' ability to spend. Weakness may lead to lower mortgage rates.
PCE Core Inflation
Friday, June 27, 2008
Up 0.2%
Important. A measure of price increases for all domestic personal consumption. Weaker figure may help rates improve.
Relevant Data
This week brings significant data. However, the results of some of the releases may be muted a bit considering they take place after the Fed meeting adjourns Wednesday. Nonetheless, the inflation release still has the potential to result in market swings so caution is the key.
*Courtesy Tonya Esquibel WR Starkey Mortgage, Franklin TN*
Permission to re-publish
Vanessa Stalets
Brentwood TN Real Estate
RE/MAX Elite
615-957-6333/615-661-4400
The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee it is not without errors.