It’s Bill Rapp, the Mortgage Viking here, let me tell you about what the Good Ole Boys on Wall Street are talking about today…
The whipsaw in the Treasury market continues as interest rates are falling across the yield curve this morning. This will mean slightly lower mortgage rates until the next Fed Rate Hike.
Jobless claims is the indicator to watch in the weeks ahead. Softness in economic data abounds, everywhere but in the labor markets. Given the weekly frequency, it will be the first to start to show if cracks are forming in the labor market. So far, with 199k today, signs of stress are nowhere to be found.
The Richmond Fed Manufacturing Survey was the 3rd of the 5 regions to be released, and it showed that activity remains slow to start the year. Currently Capital Expenditures spending was the primary things that proponents of last year’s tax reform said would be boosted. Unfortunately, this has slipped further to new lows as businesses pull back.
Mortgage applications fell slightly, but as we have noted, they have spiked sharply in the 3 weeks to start 2019.
That is all for today, please do not forget to subscribe and share this post if you found it useful!
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