I read an 87 page report earlier today that rate hikes are most likely going to happen in June, so be on the lookout!

The International Trade Report came in at $-36.4b, a little higher than its estimate.

Currently, the 3-Year Note Auction is taking place. I’ll be back with any significant updates.

Have a great day!

Rates are stable at the moment and are not changing leading into the auction here shortly.

Here’s what we got this morning:

1. Jobless Claims (measure the number of people filing for state unemployment insurance for the first time )
2. Durable Goods Orders (reflect the new orders placed with domestic manufacturers for immediate and future delivery of factory hard goods)

The Jobless Claims came in at 452K, lower than the expected 470k estimate. This is good for the economy, but bad for mortgage rates.

The Durable Goods Orders came in at 0.2%, lower than the 0.4% estimate – bad for the economy, good for mortgage rates.

This report data gives you an idea of demand, but also to business investment. If companies are willing to spend more time on resources for their business (equipment and other business capital), they are surely doing well for themselves and growing their business.

Since both reports have a decent impact on the mortgage bond market, we should see a wash for the most part.

Currently down 9 bps for the morning, we shouldn’t see much fluctuation in mortgage rates today.

Now go get some last minute Christmas shopping done!

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