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Bond Market Update

Market Update

Friday, January 18, 2019

What's going on and why does it matter?
Mortgage bond prices have come off their recent highs, but it appears they may be poised to rebound off their 30-day moving average. Financial markets are optimistic this morning about US-China trade discussions, as there were rumors that the US may consider rolling back tariffs on China imports during trade talks scheduled January 30 in Washington. Other than that, the market remains concerned about the partial government shutdown, now into its 28th day. The bond market will be closed on Monday for the Martin Luther King Jr. holiday.

What should you do about it?
Watch for mortgage bonds to rebound, but be prepared to lock your rate quickly if bond prices break below their 30-day moving average.

Economic Calendar

Economic reports that may impact mortgage rates this week:

Date Report Period Prior Est. Actual
Tue 15 Jan NY Fed Mfg Index Jan 10.90 11.25 3.9
Tue 15 Jan PPI final demand Dec 0.1% -0.1% -0.2% 
Thu 17 Jan Initial Jobless Claims Week of Jan 7 216k 220k 213k
Fri 18 Jan Industrial Production Dec 0.6% 0.2% 0.3%
Fri 18 Jan U of Mich Consumer Sent. Dec 98.3 96.9 90.7 

Patrick Glaros

Patrick Glaros
NMLS: 308804
First Choice Loan Services Inc.
Corporate NMLS: 210764
(972) 728-3420
5001 Spring Valley Rd., Suite 500W
Dallas, Texas 75244


First Choice Loan Services Inc. (NMLS# 210764), a Berkshire Bank Company (NMLS# 506896), is located at One Tower Center, Floor #18 East Brunswick, NJ 08816. First Choice Loan Services Inc. is licensed, registered or exempt from state licensing in the states it originates mortgage loans. Licensed by the NJ Department of Banking and Insurance. AZ BK#0918586. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act. Mortgage loan products and services not offered in the state of New York. First Choice Loan Services is not an agency of the federal government. All loans are subject to credit approval. Programs, rates, terms and conditions are current, but are subject to change or expire. Other restrictions may apply. All applications must be submitted in writing. This advertisement is not a loan disclosure or commitment to provide a loan approval or a specific interest rate. http://www.fcloans.com/privacy