Week In Review From Guild Mortgage

Week In Review From Guild Mortgage

Thank you to our wonderful friend Josey Cabaj from Guild Mortgage for this wonderful information. 

Last Week in Review: Home Loan Rates Do Not Participate in Bond Rally   
Labor Day Holiday  
Last Week in Review  
  This past week home loan rates held steady near three-year lows, a fantastic development for housing and the overall economy. However, what has caused a lot of confusion is the sharp decline in the 10-year Note yield, which has not translated into lower home loan rates. Thanks to a lack of understanding in the media, consumers are left scratching their head as to why home loan rates haven't declined further. 

Remember that Mortgage Backed Securities (MBS) are the instruments which affect home loan rates. So, while the 10-year Note has risen in price and dropped in yield through August, MBS have moved generally sideways to lower. Home loan rates will not improve further unless MBS move higher in price.

What will lift MBS price further? A continued decline in the 10-year Note yield would go a long way to help drive MBS prices higher as well – and it just may happen. Problems in Europe, Brexit, U.S./China trade dispute, and a global economic slowdown may continue to drive global Bond yields lower, including those here in the U.S. lower still. 

Bottom line: home loan rates are at three-year lows along with a sound economy. If you are planning to refinance or purchase a home, today is a great day to do so.

Economic Calendar for the Week of Sep 2- Sep 6
Date ET Economic Report For Estimate Actual Prior Impact
Tue. Sep 3 10:00 ISM Index Aug 51.4   51.2 HIGH
Wed. Sep 4 2:00 Beige Book Sep NA   NA Moderate
Thu. Sep 5 10:00 ISM Services Index Aug 54.1   53.7 Moderate
Thu. Sep 5 08:30 Productivity Q2 2.3%   2.3% Moderate
Thu. Sep 5 08:30 Jobless Claims (Initial) 8/31 217K   215K Moderate
Thu. Sep 5 08:15 ADP National Employment Report Aug 140K   156K HIGH
Fri. Sep 6 08:30 Non-farm Payrolls Aug 155K   164K HIGH
Fri. Sep 6 08:30 Unemployment Rate Aug 3.7%   3.7% HIGH
Fri. Sep 6 08:30 Hourly Earnings Aug 0.3%   0.3% HIGH
Fri. Sep 6 08:30 Average Work Week Aug 34.3   34.3 HIGH
Josey Cabaj Josey Cabaj Sales Manager | NMLS #370053 144 4th Street Suite 2, Baraboo WI 53913 O: (608) 402-6106 | M:  jcabaj@guildmortgage.net Visit My Webpage
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I am licensed to do business in the state of Wisconsin.


Brought to you by Guild Mortgage Company, an Equal Housing Lender; Company NMLS #3274. All information, loan programs and interest rates are subject to change without notice. All loans subject to underwriter approval. Terms and conditions apply. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.

All Rights Reserved. ©2018, Guild Mortgage Company. Click here to view Guild Mortgage Company NMLS Consumer Access; Company Corporate Address: Guild Mortgage Company, 5898 Copley Drive, San Diego, CA 92111. State of Missouri Principal Location: 17280 North Outer 40, Ste. 101, Chesterfield, MO 63005.

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Dated: August 30th 2019
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