This week is jam packed with economic data that may move mortgage rates, including the Fed meeting wrapping up on Wednesday and Friday’s Jobs Report.
This morning’s PCE came in with inflation continuing to be tame (good news for bonds, like mortgage backed securities). And more good news for housing, Pending Home Sales for March came in much stronger than expected.
Here are some of the economic indicators scheduled to be released this week:
Monday, April 29: Personal Consumption Expenditures and Core PCE; Pending Home Sales
Tuesday, April 30: Employment Cost Index (ECI); S&P/Case-Shiller Home Price Index; Chicago PMI; Consumer Confidence
Wednesday, May 1: ADP National Employment Report; ISM Index; FOMC Meeting
Thursday, May 2: Productivity and Initial Jobless Claims
Friday: The Jobs Report; ISM Services Index
As I get ready to publish this post (9:30 am) the DOW is up 94 points at 14,806 and mortgage backed securities are up 12 bps (FNMA 30 year 3.0%).
Of course if you are considering buying or refinancing a home located in Everett, Edmonds, Enumclaw or anywhere in Washington state, where I’m licensed, I’m happy to help you – click here for a mortgage rate quote.