Market Update courtesy of Caliber Home Loans....
Dec 11, 2017
Last week mortgage rates fell slightly. Although there wasn’t much movement in mortgage rates over the week as a whole, there were some days of somewhat pronounces movement. Tuesday in particular, experienced a large drop in rates, causing many lenders to reissue rates. Thursday and Friday, however, saw mortgages peal back some of their gains from earlier in the week.
This week is poised to be quite eventful with the Fed decision on Wednesday taking center stage. Political experts are also focused on the Alabama senate race, and the potential implications the result may have on the pending tax reform proposals. The week starts out slowly, with little data out Monday or Tuesday, however, Tuesday is the special general election in Alabama to fill the US Senate seat which has been vacated by Attorney General Jeff Sessions. Wednesday will be the main event, with both the November CPI report due out, and the conclusion of the two-day FOMC meeting with a 25bp hike likely to be announced. Fed Chair Yellen will follow with a press conference. Domestically, Thursday we receive Initial Claims, Retail Sales, and Manufacturing Data. Internationally, the European Council meeting scheduled for Thursday and Friday will shed some light on how quickly we can get a transitional agreement for the UK and how contingent it is on talks over the future relationship.
Economic Calendar for the week of 12/11/2017 to 12/15/2017:
Monday: JOLTS Job Openings
Tuesday: NFIB Small Business Optimism and PPI Final Demand
Wednesday: MBA Mortgage Applications, CPI (MoM, CPI (YoY), Real Avg Hourly Earnings, Real Avg Weekly Earnings, and FOMC Rate Decision
Thursday: Initial Jobless Claims, Continuing Claims, Retail Sales, Import Price Index, Export Price Index, Markit US Manufacturing PMI, Markit US Services PMI, and Bloomberg Consumer Comfort Index
Friday: Empire Manufacturing, Industrial Production (MoM), and Capacity Utilization
last weekend bc this weekend i am cleaning my house + eating tacos + editing photos + going to volunteer for my company, coldwell banker bain's (it is not actually a bank) annual daffodil giveaway at qfc (n mercer island - stop by + say hi from 1-3) + attending a charity auction / gala with my sister + work from home for some new clients - real estate - do a few more photo shoots at a pumpkin patch + drink coffee + make breakfast for my husband + remind him just how much I appreciate him + snuggle with my dog + take her for a walk + while also drinking tea + football + sleepover with my nephew + watching movies while listening to music (new single called "safe" from antoine bradford) sleeping in + other stuff. K - have a great weekend! #daweekendvibes#therunonsentencewasnecessary#mimithomasrealestate