Mortgage rates are based on bonds (mortgage backed securities) which can react in reverse to stocks. If stocks are on a hot streak, you may see investors trade of safety of bonds for the potentially quicker return found in stocks (the reverse is also probable). Signs of inflation may also cause mortgage rates to trend higher.
Here are the economic indicators scheduled to be released this week (no indicators are scheduled for today):
- Tuesday, January 14: Retail Sales
- Wednesday, January 15: Empire State Index Producer Price Index (PPI); Beige Book
- Thursday, January 16: Consumer Price Index (CPI); Initial Jobless Claims; Philadelphia Fed Index; Housing Market Index
- Friday, January 17: Building Permits; Housing Starts; Consumer Sentiment (UoM)
The following events are not economic indicators, however, they’re coming up this week:
Saturday, January 18: Home Buyer Education Class in Kent — we have just a few spots remaining. If you are interested in attending our seminar and being eligible for down payment assistance, please rsvp.
Sunday, January 19: SEAHAWKS trounce the 49er’s