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What is the American Consumer Thinking?

Tuesday, we’ll get a look at Retail Sales.  It’s important, because consumer spending accounts for two-thirds of the economy.

If a lower-than-expected figure for Retail Sales comes out, it would dampen Wall Street’s current optimism for the U.S. and that would likely lead mortgage rates lower.

Where is Inflation At?

On Wednesday, the government will release a closely-watched “cost of living” measurement called the Consumer Price Index.  At its roots, CPI is an inflation gauge for the economy.  Because inflation is bad for mortgage rates, a higher-than-expected CPI number is expected to push mortgage rates higher.

How Busy is the Home Building Business?

Thursday, Housing Starts will be released.

Housing Starts measures the number of new homes on which the nation’s builders broke ground on last month.  If starts are up, it may mean that builders are optimistic for housing — a good sign for the economy.  However, if starts are down, it should help reduce housing inventory over the next few months — also counter-intuitively a good sign for the economy.

Earnings Week!

On top of an already busy economic news week, 3 of the country’s biggest financial firms — Goldman Sachs, JPMorgan Chase, and Citigroup– are due to release first quarter earnings this week.  If the filings show strength like Wells Fargo’s did, expect mortgage rates to rise like that did after the Wells Fargo report.  What’s good for stocks right now may prove to be bad for mortgage rates.

Goldman Sachs reports on Tuesday, JPMorgan Chase on Thursday and Citigroup on Friday.

You Can Stay Updated!

I’ll be following things as they happen with live mortgage bond quotes and do what I can to keep everyone informed with live updates through Twitter.

Here’s this week’s economic calendar:

As a Consumer, How Do You Keep Posted on the News?

I’ll do my best to keep you posted throughout the week via Twitter. If you’re interested in finding out more about what effects mortgage rates and which direction they’re headed, feel free to follow me!

Work With Mortgage Professionals In The Advice Business

It’s important to recognize that advice is extremely valuable when looking for a mortgage. The right advice can literally save you thousands of dollars, while the wrong advice can cost you the same.  Some mortgage professionals really don’t know what mortgage rates are based on, period.  If you want to get the best deal, having a professional that can give you that type of advice is extremely important.

Why Am I Posting A Calendar?

I provide this weekly news update because too often when we’re shopping around, we ask the wrong questions. The first thing you’ve got to have your antenna up on is economic news if you want to have any idea what direction rates are moving.

So You Say, What Are Mortgage Rates Currently?

I get this question all too often. If I’m being fair.. and honest (which is my policy). I would be doing you a huge disservice to just quote a rate.

Truth be told, there are literally 27 different factors that go into a custom rate quote. There are also thousands of programs (constantly changing as well). It’s extremely important that you are educated on what is available and most importantly what is the best mortgage plan for you to personally implement.

It’s natural to have a list of questions. I’d love to help work through them with you and educate you on what you need to know about the mortgage process. I can help with everything from how to pre-qualified to what to do after closing (where I will continue working for you)!

It’s what we do, and it would be my honor to add you to our list of raving fan clients. If you’re currently looking for a mortgage loan or know someone that might have questions about one, please have them contact me. I’d be happy to assist them. It’s literally what I love doing! I promise to take great care.

Image Courtesy: Wall Street Journal Online
Original Photo Kudos

Tagged as: mortgage rates and economic news