The Week In Review (January 29, 2007) : What To Watch For

Posted by Rosemarie Litoff on January 29, 2007 under Uncategorized | Comments are off for this article

After a week of bludgeoning in which mortgage rates rose as much as 0.50% on the heels of a supposed housing sector rebound, don’t expect the fireworks to stop anytime soon.

This Monday and Tuesday will be quiet with respect to economic releases, but Wednesday through Friday will be jammed-packed with mortgage-rate-moving data. The highlights include the Federal Open Market Committee’s press release (Wednesday), the Fed-preferred Personal Consumption Expenditures inflation data (Thursday), and the all-important jobs report (Friday).

Mortgage bond traders are heavily biased towards economic strength this week so any inflationary signals will result in continued increases in mortgage rates.