What may impact the direction of mortgage rates this week: March 14, 2016

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mortgageporter-economyThis week is packed with economic data that may impact the direction of already volatile mortgage rates. Mortgage rates are based on bonds (mortgage backed securities/MBS) and change throughout the day, similar to stocks. MBS may often move in the opposite direction of stocks as investors will seek the safety of bonds when stocks are being volatile.

Today the Fed starts their two day meeting. We’ll learn tomorrow if they are going to raise the Fed Funds rate.

Here are the economic indicators scheduled to be released this week that may impact the direction of mortgage interest rates:

  • Tuesday, March 15: Producer Price Index (PPI); Housing Market Index; Retail Sales; Empire State Index
  • Wednesday, March 16: Consumer Price Index (CPI); FOMC Meeting; Housing Starts; Building Permits
  • Thursday, March 17: Philadelphia Fed Index; Initial Jobless Claims
  • Friday, March 18: Consumer Sentiment Index (UoM)

If you are considering buying or refinancing a home located anywhere in Washington state, where I’m licensed, I’m happy to help you! Click here for a no-hassle mortgage rate quote.

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