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…
ADP Employment is expected to pull back after the blockbuster December number (and Nonfarm payrolls number). Of course, everyone I’ll be looking for signs that Dec market volatility and the January gov’t shutdown had an impact on hiring activity.
I will begin getting new home sales data in the coming weeks. It hasn’t been a great run of late for home sales given the rise in rates to end 2018, and generally decreasing affordability.
Mortgage applications have spiked to start 2019, as people have plans to buy homes. I’ll look to see if that starts to show up in the hard data.
The FOMC meeting shouldn’t offer much in the way of news, but I’ll be looking for any mention of “downside risks” in the statement, and for further color on balance sheet plans in Powell’s press conference.
The Present Situation index held up okay, but expectations plunged to 87.3 from 99.1. It can be a volatile index, as shown, but market volatility and the government shutdown likely sparked this nosedive.
That is all for today, please do not forget to subscribe and share this post if you found it useful!
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