Market Commentary Report July 17th 2015

Market Commentary Report July 17th 2015

Mortgage bond prices finished the week higher which put downward pressure on rates. Rates were negative the first portion of the week tied to a Greek debt deal. Rates were under pressure from news that Greece capitulated to creditor demands. Trading was mostly positive the rest of the week amid mixed data. Retail sales, an indication of the strength of the consumer, fell 0.3%. This was the first drop in four months. Economists expected sales to rise 0.3%. Sales figures for the previous two months were also reduced which suggested GDP growth may be softer than previously expected. Weekly jobless claims were 281K versus the expected 283K. The Philadelphia Fed index of manufacturing activity was 5.7 versus the expected 12.5 reading. Mortgage interest rates finished the week better by about .125%.

Mortgage Professionals

Obtaining a mortgage is often a confusing task that can also lead to frustration. The reason for the confusion is due to the fact that mortgage financing is complex. The good news is that this complexity provides consumers with options and choices best suited to fit their needs.

Everyone’s financial position is unique. Some people have large cash reserves that can be used for down payments while others want to get into a home with little or no money down. Credit ratings vary from person to person. In addition, future plans vary. Some people plan on staying in their home for the rest of their lives while others only plan on staying for a few years. These facts alone make comparing your mortgage to your neighbor’s based on rate alone a flawed endeavor, yet many people attempt to do so. Admittedly, everyone wants a good deal. Keep in mind that comparing rates is just one component of the entire mortgage. Other variables include the term, down payment requirements, income qualifications, credit ratings, reserve requirements, current debt, prepaid points, and many more. A mortgage professional is able to take all of these variables that are unique to each individual and help a person obtain financing that works best for their situation. The service they provide is time consuming and complex. However, the rewards of dealing with a professional carry forward throughout a borrower’s life. Making wise financial decisions today helps to pave the way for a safe and secure future.

Mortgage interest rates currently remain historically favorable. There is much uncertainty about the future of the economy. A cautious approach to lock decisions is wise.



Date & Time



FHFA House Price Index

Wednesday, July 22,
10:00 am, et

Up 0.7%

Moderately Important. A measure of single family house prices. Weakness may lead to lower rates.

Existing Home Sales

Wednesday, July 22,
10:00 am, et


Low importance. An indication of mortgage credit demand. Significant weakness may lead to lower rates.

Weekly Jobless Claims

Thursday, July 23,
8:30 am, et


Important. An indication of employment. Higher claims may result in lower rates.

Leading Economic Indicators

Thursday, July 23,
10:00 am, et

Up 0.4%

Important. An indication of future economic activity. Weakness may lead to lower rates.

10-year Treasury TIPS Auction

Thursday, July 23,
1:15 pm, et


Important. TIPS will be auctioned. Strong demand may lead to lower mortgage rates.

New Home Sales

Friday, July 24,
10:00 am, et


Important. An indication of economic strength and credit demand. Weakness may lead to lower rates.

Please give us a call if you have any financial questions or if you need a second opinion on a loan scenario. If you are calling after hours or on weekends, please use any of the direct contact numbers below.

Dustin DeHart
Vice President/Senior Loan Officer
Office: 702.216.3902
Cell: 702.217.3009
Fax: 702.430.1501
NMLS: 25011
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Phone: 702-506-4090
Dated: July 17th 2015
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About Richard: Richard Emanuele is a top Producing Real Estate agent who holds distinguished designations such as: ...

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