Good afternoon! Here are the economic indicators for the week and what
is forecasted. Please let me know if you have any questions. Thank you,
and have a great day! If you can’t see the newsletter, or would like to
view it online, use this link Newsletter-February 8th, 2010
Provided by:
Lori Jenkins
Lori Jenkins Fulton Mortgage
4429 Bonnie Rd Virginia Beach, VA 23462
Phone: (757) 635-2673
E-Mail: lojenkins@fultonmortgagecompany.com
Market Comment Mortgage bond prices rose last week pushing mortgage
interest rates slightly lower. Reignited fear of a global economic meltdown
sent money into the mortgage bond market in flight to quality buying. The
news reports were permeated with worries about European debt payment
defaults. Greece and a few other countries were noted as specific concerns.
The employment report Friday morning was mixed with unemployment not as bad
as expected but a larger than expected drop in payrolls. For the week
interest rates fell by about 1/4 of a discount point.
The record debt issuance continues with billions of dollars worth of notes
and bonds set for auction this week. Strong foreign demand will likely help
the entire bond market. With the recent “revisions” to employment data the
weekly jobless claims data will carry a bit more weight than usual. Retail
sales figures will be the headline figure this week.
LOOKING AHEAD
Economic Indicator
Release Date & Time
Consensus Estimate
Analysis
3-year Note Auction Tuesday, Feb. 9, 1:00 pm, et
None Important. $40 billion of notes will be auctioned. Strong demand may
lead to lower mortgage rates. Trade Data Wednesday, Feb. 10, 8:30 am, et
$35 billion deficit Important. Affects the value of the dollar. A falling
deficit may strengthen the dollar and lead to lower rates. 10-year Note
Auction Wednesday, Feb. 10, 1:00 pm, et
None Important. $25 billion of notes will be auctioned. Strong demand may
lead to lower mortgage rates. Weekly Jobless Claims Thursday, Feb. 11, 8:30
am, et
475k Important. An indication of the employment situation. Hi
