Posted by Angela

Weekly Market Commentary

22 January 2016
Weekly Market Commentary

Weekly Market Commentary

Mortgage rates remained relatively stable during the trading week ending January 22nd, shortened by the holiday. The selloff in global equity markets, as well as oil, continued to help support bond prices and low rates.

The week ahead will have some domestic economic data for markets to digest, with the main event for the week being the first FOMC rate decision of the year on Wednesday. Markets have assumed that recent global market turmoil will slow the Fed’s pace of rate increases, with Fed Funds Futures pricing in only one additional increase in 2016, instead of the four increases that Fed policymakers had projected at the last meeting. The FOMC will meet on Tuesday and Wednesday with the FOMC statement set to be released at 1:00p.m. CT/2:00 p.m. ET on Wednesday.


Economic Calendar for the week of 01/25/2016 to 01/29/2016:

Monday: Dallas Fed Manufacturing Activity

Tuesday: FHFA House Price index and the S&P Cash-Shiller Housing Price Index

Wednesday: New Home Sales and the FOMC Rate Decision

Thursday: Initial Jobless Claims, Durable Goods Orders, and Pending Home Sales

Friday: Q4 Advance GDP, Chicago PMI, and U of M Consumer Sentiment


Key Market Indicators
Week Ending Week Ending Week Ending Week Ending
(01/22) (01/15) (01/08) (12/31)
FNMA 3.5 Coupon 104.03125 104.00000 103.90625 103.1875
Dow Jones 16,093 15,988 16,346 17,425
S&P 500 1906 1880 1922 2043
Gold $/oz 1097 1088 1104 1061
30YR APOR 3.97 4.02 4.06 4.01
10 Year Yield 2.0519 2.0347 2.1156 2.269


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