This weeks Mortgage Update for the Columbia SC Real Estate Market is brought to you by Mark Ilderton. If you have any questions or would like to get in touch with Mark, please contact me.
This week is very light in terms of economic releases scheduled to be posted. There are actually three reports scheduled that are worthy of addressing, but none of them are considered to be highly important to bonds and mortgage rates. The Institute for Supply Management (ISM) Services Index was posted this morning and came in stronger than expected. However, the variance between the actual reading and the forecasted reading was not enough to cause much concern in the bond or mortgage markets.
The Labor Department will release its 1st Quarter Productivity and Costs data early Wednesday morning. This information helps us measure employee productivity in the workplace. High levels of productivity help allow low-inflationary economic growth. If employee productivity is rising, the bond market should react favorably. However, a decrease could raise inflation concerns that cause bond prices to drop and mortgage rates to rise Wednesday morning. It is expected to show a 1.5% increase in productivity.
March’s Goods and Services Trade Balance report will be released early Friday morning. This report gives us the size of the U.S. trade deficit but likely will not have much of an impact on the bond market or mortgage pricing. It is the least important of this week’s data for Columbia SC Real Estate.
In addition to this week’s economic data, we also have Treasury auctions that can influence bond trading and affect mortgage rates. The Treasury will hold a 10 year Note sale Wednesday and 30 Year Bond sale Thursday. Results of the auctions will be posted at 1:30 PM ET. If they were met with a strong demand from investors, we could see bond prices rise enough during afternoon trading to cause downward revisions to mortgage rates. However, lackluster bidding could lead to higher mortgage pricing those afternoons for the Columbia SC Real Estate Market.
Overall, I am expecting to see a fairly quiet week in mortgage rates, especially compared to last week’s volatility. As long as the stock markets remain fairly calm, I think the day to day changes in mortgage rates will remain relatively small.
Until Next Time,
Mark Ilderton
Your source for all things related to lending in the Columbia SC Real Estate Market
Filed under: Columbia SC Real Estate Buyers, Sellers | Tagged: columbia real estate, columbia sc real estate, columbia sc realty, irmo real estate, lexington sc real estate, mortgage, mortgage rates
