Brentwood TN Real Estate: Finance Market Update July 14th, 2008
Brentwood TN Homes
Mortgage bond prices rose applying downward pressure on mortgage interest rates. Trading remained volatile. Energy prices remained a major focus with oil prices gyrating up and down. With the lack of significant data, news of Fannie Mae and Freddie Mac insolvency under fair value accounting rules had mortgage investors on edge.
Economic Factors
Economic Indicator
Release Date Time
Consensus Estimate
Analysis
Producer Price Index
Tuesday, July 15, 2008
Up 1.3%, Core up 0.3%
Important. An indication of inflationary pressures at the producer level. Weaker figures may lead to lower rates.
Retail Sales
Tuesday, July 15, 2008
Up 0.3%
Important. A measure of consumer demand. A smaller than expected increase may lead to lower mortgage rates.
Fed Testimony to Congress
Tuesday, July 15, 2008
None
Important. Bernanke will deliver his semi-annual economic and monetary policy testimony to Congress.
Consumer Price Index
Wednesday, July 16, 2008
Up 0.7%, Core up 0.2%
Important. A measure of inflation at the consumer level. Lower than expected increases may lead to lower rates.
Industrial Production
Wednesday, July 16, 2008
Up 0.2%
Important. A measure of manufacturing sector strength. A lower than expected increase may lead to lower rates.
Capacity Utilization
Wednesday, July 16, 2008
79.4%
Important. A figure above 85% is viewed as inflationary. A decrease may lead to lower mortgage interest rates.
Fed Minutes
Wednesday, July 16, 2008
None
Important. Details of the last Fed meeting will be thoroughly analyzed.
Housing Starts
Thursday, July 17, 2008
Down 0.7%
Important. A measure of housing sector strength. Larger than expected decrease may lead to lower rates.
Fed Testimony
The Fed Chairman delivers the Federal Reserve's semiannual report on monetary policy, familiarly called the Humphrey-Hawkins report, to both the House and Senate Banking Committees in February and July. The report is one of the most important speeches given by the Fed Chairman. The remarks made to each committee tend to be identical in nature and address basic economic principles. The areas addressed tend to be the overall state of the US economy, recent developments, economic fundamentals, foreign developments, economic outlook, ranges for growth, and concluding remarks. Senator Hubert Humphrey and Representative Augustus Hawkins originally sponsored the legislation. The legislation officially expired in 2000; however, the Fed Chairman continues the practice. *Courtesy Tonya Esquibel, WR Starkey Mortgage Franklin TN* . 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.
Vanessa Stalets 615-957-6333Brentwood TN Homes For Sale