Mortgage backed securities are improving this morning on the news that Larry Summers has withdrawn as a candidate for the next Fed Chairman. This leaves current Fed Vice Chairman Janet Yellan as a strong candidate to replace Ben Bernanke. Bond markets are reacting positively to the news that Janet is once again a front runner as the next Fed head. Speaking of the Fed – watch for the results of the FOMC meeting on this Wednesday.
Here are a few of the economic indicators scheduled to be released this week which may impact the direction of mortgage interest rates:
- Monday, September 16: Empire State Index
- Tuesday, September 17: Consumer Price Index (CPI) and Housing Market Index
- Wednesday, September 18: Housing Starts, Building Permits and the FOMC Meeting
- Thursday, September 19: Initial Jobless Claims, Existing Home Sales and Philadelphia Fed Index
Remember, I’m not just a mortgage blogger – I’m also a licensed Loan Officer and I’m happy to help you with your home purchase or refinance for your home located anywhere in Washington state.