This week starts off quiet as far as financial reports that could have an impact on San Diego Interest Rates, but look for these important reports in the second half of the week.
- On Wednesday, Retail Sales will be released and will gauge how consumer spending habits held up in January.
- Initial Jobless Claims will be reported on Thursday. Last week, claims fell by 5,000 in the latest week to 366,000, just above expectations. The four-week moving average, which evens out any seasonal abnormalities, fell to a five-year low of 350,500.
- New York State Empire Manufacturing and Consumer Sentiment will be released on Friday.
As you watch the reports mentioned above, remember that weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result.
The chart below shows Mortgage Backed Securities (MBS), which are the type of Bond that home loan rates are based on. In the chart a red “candle” means that MBS worsened during the day, while a green “candle” means MBS improved during the day. Depending on how big the changes were on any given day, this can cause rates to change throughout the day.
If you would like a Mortgage Rate quote click Here, or feel free to give me a call. I can help with San Diego Home Loans or loans throughout the state of California. I have been a San Diego mortgage broker for over 11 years and am ready to assist you.