by Calculated Risk on 12/13/2017 06:35:00 PM
Wednesday, December 13, 2017
From Matthew Graham at Mortgage News Daily: Mortgage Rates Quickly Lower After Inflation Data and Fed
Mortgage rates fell fairly quickly this afternoon following the Federal Reserves updated economic projections. [30YR FIXED - 4.0%]. ... rates had long since adjusted to today's rate hike--so much so that the hike itself was a non-event. Again, it was the update economic projections that helped rates move lower this afternoon. Fed Chair Yellen's press conference played a major role as well.Thursday:
Even before the Fed news came out, a weaker reading on an important inflation report helped bond markets get into positive territory on the day. The net effect of the Fed and the economic data was a moderately quick move back to last week's low rates.
• At 8:30 AM ET, The initial weekly unemployment claims report will be released. The consensus is for 239 thousand initial claims, up from 236 thousand the previous week.
• Also at 8:30 AM, Retail sales for November be released. The consensus is for a 0.3% increase in retail sales.
• At 10:00 AM, Manufacturing and Trade: Inventories and Sales (business inventories) report for October. The consensus is for a 0.1% decrease in inventories.
Posted by Calculated Risk on 12/13/2017 06:35:00 PM