Market Movers Everywhere
Now is an important time in our industry to pay attention to the numbers, the charts, and especially the political rhetoric on all sides. I don’t remember a series of potential market movers and known events all happening in the next week, but any or all of these could dramatically move the markets.
First, lets look at where we are to see where the mortgage markets sit as of 6am 10-7-21 when I am writing this: UMBS 30yr 2.5% is 103.05 – 10yr T is 1.52. In the past year the High was 105.63 on 1/4/21 and a low of 102.20 on 3/19/21 and the 10yr T was 1.71 on 3/31/21 and .709 on 10/14/20 Just a point of reference and charts you can have available to share with your clients. We also saw refinances drop 10% week over week and down 16% year over year with rates only being about .125% higher this year. Market certainly volatile and the trend is for rates to go higher. Case-Schiller nails home values up over 19% year over year.
Events that can move the markets.
- Today 10-7-21 initial jobless claims
- Friday 10-8-21 September 2021 Jobs Report
- Next week – 10-13-21 – CPI report & 10-14-21 PPI
Ongoing movers can include:
- New conforming loan limits for 1-1-22 $625,000
- Debt Ceiling
- Is $3.5 TRILLION DOLLARS really ZERO?
- Will “Infrastructure” Bill ever get passed?
- Supply chain getting better or worse?
- Southern Boarder/COVID/Vaccines/Boosters/CRT/FBI targeting parents…
There is a lot to talk about. Questions or comments: Mike@IMTcoaching
