Maine Mortgage Market Wrap 02.04.2011

MARKET WRAP: Mortgage Bonds fell for the 5th straight this week on positive economic reports, supply issues next week, inflation fears and a fall in the unemployment rate. The 4% coupon close to 200bp this week finishing at 99.62 down 47bp. Stocks managed to put up gains this week with the Dow rising 2.3% to 12092.15, the S&P 500 up 2.7% to 1,310.87 while the Nasdaq rose 3.1% to end the week at 2,769.30. Oil finished at $89.03/barrel falling 0.4% for the week. Next week’s economic calendar is extremely light with just weekly claims on Thursday and Consumer Sentiment on Friday. The Treasury will sell $72B in 3 and 10 year notes along with 30 year Bonds next week. Have a great weekend!

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Events effecting the Maine Mortgage Market 11.08 to 11.12

LOOKING AHEAD

Economic
Indicator
Release
Date & Time
Consensus
Estimate

Analysis
3-year Treasury Note Auction Monday, Nov. 8,
1:15 pm, et
None Important.  $32 billion of notes will be auctioned.  Strong demand may lead to lower mortgage rates.
10-year Treasury Note Auction Tuesday, Nov. 9,
1:15 pm, et
None Important.  $24 billion of notes will be auctioned.  Strong demand may lead to lower mortgage rates.
Weekly jobless claims Wednesday, Nov. 10,
8:30 am, et
460k Important.  An indication of unemployment.  Higher figure may lead to lower mortgage rates.
Trade Data Wednesday, Nov. 10,
8:30 am, et
$46b deficit Important.  Affects the value of the dollar.  A falling deficit may strengthen the dollar and lead to lower rates.
30-year Treasury Bond Auction Wednesday, Nov. 10,
1:15 pm, et
None Important.  $16 billion of bonds will be auctioned.  Strong demand may lead to lower mortgage rates.
U of Michigan Consumer Sentiment Friday, Nov. 12,
8:30 am, et
67 Important.  An indication of consumers’ willingness to spend.  Weakness may lead to lower mortgage rates.