Week of: Monday, February 29, 2016
Present Market Conditions
Mortgage Bonds begin the week slightly higher in this final day of the trading month.
Stocks are lower after weak readings from both the Chicago PMI (47.6 vs 53.0) and the January Pending Home Sales report.
The week's economic calendar will feature key reports on housing, manufacturing and labor market news, highlighted by Wednesday's ADP National Employment Report and Friday's Non-Farm Payrolls, both for the February data.
the important readings of week that will have most effect on the Mortgage rates are ISM(manufacturing) and
and ADP and almighty Non-Farm report on Friday.
Overall, look for a fairly active week in the markets and mortgage rates, especially the early and latter days. Friday is the most important day of the week due to the significance of that day's data but we could also see a noticeable move in rates Tuesday. With data or relevant reports being posted four of five days and some of that data considered key.
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