What does this grainy picture of me and Coach Knox have to do with mortgage rates? Nothing… but this week has everything to do with the Seattle Seahawks as we count the minutes down to the Super Bowl!! This photo was taken in 1986 for a calendar back when I worked in a title unit at Chicago Title… I’m wearing Kenny Easley’s uniform and yes, that is really Chuck!
This week is packed full of economic indicators that my impact the direction of mortgage interest rates. Also, mortgage rates are based on bonds (mortgage backed securities) and when there is a sell off in the stock market, we tend to see mortgage rates improve. This is because investors will seek the safety of bonds over the volatility sometimes found with stocks. We’re seeing a bit of that now with mortgage rates trending lower.
Here are some of the economic indicators scheduled to be released this week:
- Monday, January 27: New Home Sales
- Tuesday, January 28: Durable Goods Orders; S&P Case-Shiller Home Price Index; Consumer Confidence
- Wednesday, January 29: FOMC Meeting
- Thursday, January 30: Initial Jobless Claims; Gross Domestic Product (GDP); GDP Chain Deflator; Pending Home Sales
- Friday, January 31: Personal Consumption Expenditures (PCE); Core PCE; Chicago PMI; Employment Cost Index; Consumer Sentiment (UoM)
Last but not least, I will be teaching a Home Buyers Education Class at the Green Lake Library this Saturday. We may have just a few seats available – if you would like more information or if you would like to attend, click here. Attendees are eligible for home buyer assistance programs offered by the Washington State Housing Finance Commission.
Have a great week! GO HAWKS!!