Market Watch March

Dated: 03/06/2016

Views: 407

Market Matters
 

MARKET RATES

Mortgage Rate Movement


FEATURED BLOG POST:

IS YOUR HOME'S DESIGN ON TREND?


8 Popular 2016 Home Design Trends That Can Breathe Life Into Your Home


As homeowners nestle down into the comforts of their furnishings and décor for the many years to come, they may not notice their surrounding's gradual decline into an outdated living space some like to call "retro." And hey, retro spaces are great for some! I personally enjoy testing out someone's 1960's built-in intercom and radio wall panel. But if circumstances have you readying an outdated home to list for sale, updating your space to include today's top design trends can go a long way in attracting potential buyers. … read more

 
 

THE WEEK IN REVIEW

We've made it through another week full of economic data with the biggest headlines coming in on Friday with the February Non-Farm payroll report. The jobs headline was strong, up 242k, however, the earnings data was much more disappointing. Average hourly earnings fell by -.1%, bringing the year over year rate from 2.5% to 2.2%. We also saw a decline in the average work week hours, from 34.6 down to 34.4. Very mixed signals in the report as the economy looks to be adding more jobs, but the lack of wage growth will likely give the Fed even more uncertainty in the meetings ahead. 
Technically, ~1.88/1.89% would be our next level of support for the 10yr and we will need to see closing marks below that point for any chance of a move back to lower rates. As the charts line up now, it looks as if we may see higher yields, possibly the 1.93% handle, before moving back lower. With that said, we suggest you lock in your loans and keep those pipelines tidy.

UPCOMING MARKET DATA

March 8 – NFIB Small Business Optimism Index
March 9 – MBA Mortgage Applications
March 9 – Wholesale Trade
March 10 – Jobless Claims
March 10 – Bloomberg Consumer Comfort Index
March 10 – Treasury Budget
March 11 – Import and Export Prices
 

CALL TODAY TO DISCUSS THIS WEEK'S MARKET TRENDS.


Jason Kaiman
Production Manager
Direct: 515.418.9608     Mobile: 515.205.5244 
jkaiman@primelending.com
lo.primelending.com/jkaiman
NMLS: 406027

PrimeLending
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