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Weekly Mortgage Update: June 11th 2018′

June 11, 2018dillonBlog0

FIRST TEAM’S WEEKLY MORTGAGE WATCH (June 10th, 2018) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES:

  • Money moved toward US Treasuries and bonds again last week, as investors sought to shelter from international economic turbulence amid chatter of a trade war.
  • This against the backdrop of a Fed willing to let inflation run a little hotter than its “speed limit” and easing oil prices helped push mortgage rates downward.
  • The ISM Services Index posted a gain on predictions of a decline, but the firm footing of the economy is not diminishing the risk that traders sense in the marketplace.
  • This week’s busy economic calendar mixes with a Fed meeting where experts predict an increase in the Fed’s interest rates.
  • While the uptick is unlikely to move markets, the Fed’s economic outlook could press rates upward, especially if Retail Sales and Industrial Production meet or beat analyst’s expectations.
  • However, even if the week’s economic data is good, we could see rates moving downward in reaction to the weekend drama over the G7 meeting and the increasing likelihood of a trade war.
  • A productive summit with North Korea could push rates and hopes for peace upward.

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