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Bond Market Update

Market Update

Friday, May 18, 2018

What's going on and why does it matter?
Mortgage bonds opened higher this morning, but they remain firmly in negative territory below their 10-day moving average.  It appears that they may attempt a rebound toward that level, but it's unclear whether they can muster enough positive momentum to do so. There is nothing on the economic calendar today, although a few Fed policymakers are scheduled to give speeches. The Fed's mortgage bond buying activity today is limited to $220 million of 15-year conventional mortgages.

What should you do about it?
Watch and see if mortgage bonds can rally toward their 10-day moving average, but be prepared to lock your rate if mortgage bonds resume their downward slide.


Economic Calendar

Economic reports that may impact mortgage rates this week:

Date Report Period Prior Est. Actual
Wed 23 May New Home Sales Apr 694k 679k  
Thu 24 May Initial Jobless Claims Week of May 14 222k 220k  
Thu 24 May Existing Home Sales Apr 5.60M 5.57M  
Fri 25 May Durable Goods Apr 2.6% -1.4%  
Fri 25 May U of Mich Consumer Sent. May 98.8 98.8  

Jennifer Du Plessis CMPS CDLP CME

Jennifer Du Plessis CMPS CDLP CME
NMLS Number: 192843
Apex Home Loans, Inc
Corporate NMLS: 2884
jend@apexhomeloans.com
http://www.KirneyTeam.com
(703) 639-6803
45610 Woodland Road, Suite 140
Sterling, Virginia 20166

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Apex Home Loans, Inc. NMLS #2884. For more information, please reference the NMLS Consumer Access Website at http://nmlsconsumeraccess.org. Licensed by: DE as a Lender by the Office of the State Bank Commissioner (011603); DC as a Dual Authority Mortgage Lender by the Department of Insurance, Securities and Banking (MLB2884); FL as a Mortgage Lender by the FL Office of Financial Regulation (MLD1088); MD as a Mortgage Lender by the Dept. of Labor, Licensing & Regulation (06-4989); N.J. Department of Banking and Insurance (2884); PA as a Mortgage Lender by the Dept. of Banking & Securities (45078); VA as a Lender and Broker by the State Bank Commissioner (MC1278); and WV as a Mortgage Lender by the WV Division of Financial Institutions (ML-34657).<br/><br/>Apex Home Loans, Inc. NMLS #2884. For more information, please reference the NMLS Consumer Access Website at http://nmlsconsumeraccess.org. Licensed by: DE as a Lender by the Office of the State Bank Commissioner (011603); DC as a Dual Authority Mortgage Lender by the Department of Insurance, Securities and Banking (MLB2884); FL as a Mortgage Lender by the FL Office of Financial Regulation (MLD1088); MD as a Mortgage Lender by the Dept. of Labor, Licensing & Regulation (06-4989); N.J. Department of Banking and Insurance (2884); PA as a Mortgage Lender by the Dept. of Banking & Securities (45078); VA as a Lender and Broker by the State Bank Commissioner (MC1278); and WV as a Mortgage Lender by the WV Division of Financial Institutions (ML-34657).