April 18th, 2017
What Is Going On With Interest Rates? #wigowir
Below is the news when it happened and the market’s reaction. For a full view of the day start at the bottom and work your way up. If want to know what just happened start at the top. All Times are Eastern Standard Time. When the price of Mortgage Backed Securities (MBS) goes down rates go up, and when the price goes up rates come down. Remember in the bond market Bad News is Good News and Good News is Bad news.
|8:43 AM February Housing Starts revised up to 1.303M from 1.288M.|
|8:38 AM Housing Starts in March could have been impacted by the drop in temperatures and the snowstorm that hit the East coast and Midwest regions after February's unseasonably warm temperatures.|
|8:34 AM March Building Permits +3.6% from February to 1.26M annualized units vs 1.240M expected.|
|8:32 AM March Housing Starts 1.215M annualized units vs 1.256M expected, down nearly 7% from February.|
|8:24 AM March Building Permits/Housing Starts will be released at 8:30.|
|8:17 AM 10-yr T Note 2.22% from yesterday's close of 2.25%.|
|8:15 AM Yesterday, Treasury Sec Mnuchin told the Financial Times that the Trump administration's tax reforms may be delayed due to setbacks in Congresss over health care.|
|8:14 AM MBS open modestly higher at the 2017 price peaks on Stock weakness as equity investors digest a round of earnings reports.|
|8:05 AM S&P futures lower.|
|8:02 AM Bank of America beats earnings expectations, Goldman Sachs misses, JNJ beats on earnings, misses on revenues.|
Johnmarbury.com has attempted to verify the information contained on this post. However any aspect of such may change without notice. Johnmarbury.com does not provide investment advice and does not represent that any of the information or related analysis is accurate or complete at any time. On October 5th we started posting our rates and leaving them on the site for you to refer back to. This will allow you see where actual rates have been along with the news that caused the fluctuations on the rate sheet. I ask that you forgive my spelling and grammatical mistakes. This is due writing skills that are lacking and the need to communicate quickly. Most of the information posted on this blog along with the charts and indexes are available all during the day to the subscrbers of www.themortgagemarketguide.com The cost of subscription is very reasonable.