HEAD’S UP – KNOWLEDGE IS POWER – RATE INCREASES PENDING – LONG TERM LOCKS – BUILDERS – DO CONSTRUCTION PERMANENT LOANS.
Fri, Jun 08 - 4:52 PM ET – MARKET AND VOLATILITY OVERVIEW AND PENDING RATE HIKE NEXT WEEK BY FED.
A WORD FROM THE BOND PITS: **mortgage rates
Mortgage Bonds closed lower in price and a bit wider on spread vs Treasuries ahead ofnext week's risk filled calendar.
Next week we have the 2-day Fed meeting ending Wednesday with the release of a policy change and the statement. It is expected that the short-term Fed Funds Rate will rise by 0.25%. Consumer and wholesale inflation will be released. The
Treasury will sell a total of $68B in 3- and 10-yr Notes along with 30-yr Bonds. Have a great weekend!
The ongoing geopolitical headlines of trade issues, tariffs, and a possible summit between North Korea and the U.S. will continue to impact the markets.
Last week, the markets seesawed on the geopolitical headlines with Stocks up one day, Bond prices up the next, and vice versa.
The Core Logic Home Price Index data on Tuesday may give some insight as to where home prices are moving given anemic housing inventories.