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Sunday, July 21, 2024
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Market Commentary

Updated on July 19, 2024 10:05:45 AM EDT

There is nothing of importance scheduled for today except potentially relevant Fed-member speeches at 10:40 AM and 1:00 PM ET today. Bond traders will be looking for hints about when the Fed may start cutting key short-term interest rates. Currently, the strong consensus is that it will not happen at this month’s FOMC meeting but is highly likely to come at September’s meeting. Any comments that contradict that theory could cause a reaction in trading today.

Next week brings us several economic reports that are known to be highly influential to the markets and mortgage rates. The week has at least one item scheduled every day except Monday with the most important reports coming during the latter days. We will get the initial 2nd Quarter GDP reading, an important manufacturing index and another that includes the Fed’s preferred inflation index. Other listed reports are mostly housing related and of less importance. There are also a couple of Treasury auctions midweek that will come into play during afternoon hours. Look for details on all of next week’s relevant activities in Sunday evening’s weekly preview.

 ©Mortgage Commentary 2024

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12409 W Indian School Road C301  Avondale,  AZ  85392
Phone: (623) 935-0200 Fax: (602) 680-4660 Email: allwestcapital@msn.com
License # MB-0907098 / NMLS # 143584


12409 W Indian School Road C301  Avondale,  AZ  85392
Phone: (623) 935-0200 Fax: (602) 680-4660 Email: allwestcapital@msn.com
License # MB-0907098 / NMLS # 143584