Rates Can’t Get Better Forever

Well, we had a nice run from Jan. 14-15, but rates are taking a break from getting better…at least for now.

Mortgage bonds are currently down 16 bps, and mortgage rates should open a tad higher this morning.

There are no economic reports for today, but tomorrow we got a hell of a lineup:

1. Producer Price Index (PPI)
2. Core Producer Price Index
3. ICSC-Goldman Store Sales and the
4. Housing Starts

All of these are going to have a significant impact on the mortgage bond market, and my gut feeling tells me that since we have broken (and are falling back down) from the 1st level of resistance (200 DMA), we may see an adverse effect on mortgage rates tomorrow.

Regardless of how tomorrow plays out though, the entire week is PACKED with data that can influence your mortgage and what you pay on it so make sure to follow me on Twitter or contact me for any up to the minute updates.

Have a great week!

Tags: Housing Starts, PPI, Producer Price Index | Category: Mortgage Insights |