Mortgage rates at multi-year lows face threat of home data spinout 📉🏠🔨

The Week Ahead

WEEK AHEAD 🗓️
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Last week was full of high stakes and “What the heck happened” moments, but in the end mortgage rates survived after no major surprises from NFP employment and CPI inflation.

This helped mortgage rate PRICES drift back within 8-bps of a multi-year low set on January 9.

With the nightmare behind us, the set-up for bonds looks promising for the remainder of the month.

With no FOMC meeting in February, markets will instead focus on this week’s Fed Minutes (Feb 18) and PCE inflation (Feb 20).

Personal Consumption Expenditures is the Fed’s preferred inflation metric and is bookended on Friday by the final Q4 GDP numbers and the University of Michigan final consumer sentiment reading for February.

Meanwhile homebuilder data, including new home sales, is scattered throughout the short week and could put mortgage rates on the skids.

Monday I will take a deeper look at how mortgage rate prices, bond spreads, and longer-term trends are unfolding in my Data Deluge.

The latest Lock-O-Meter risk scores and rate lock recommendations will be posted with it.

In the meantime, check out this week’s Mortgage Rate Price Tracker for a closer look at how specific mortgage rates have changed.

Thanks for reading.

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