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Mortgage Market Update for the Week of 1/11/10

Market Snapshot:

This week, investors and traders are saying that the economy won’t gain as much momentum as they had previously estimated.  So for now, low short term finance rates are expected to continue!

The Economic Agenda for this Week:

            Tuesday

                8:30 - Nov Trade Deficit (-$34.5B frm -$32.9B in Oct)

                1:00 - $40B 3 yr note auction

           Wednesday

                7:00 - weekly MBA mortgage applications

                1:00 - $21B 10 yr note auction

                2:00 - Fed’s Beige Book—report on the economy

           Thursday

                8:30 - Weekly jobless claims (-1K to 433K, continuing claims -2K)

                       Dec retail sales (+0.5%, ex auto sales +0.3%)

                       Dec export and import prices (N/A)

               10:00 - Nov Business Inventories (+0.2%)

               1:00 - $13B 30 yr bond auction

           Friday

               8:30 - Dec CPI (+0.2%, ex food and energy +0.1%)

                      Jan NY Empire State manufacturing index (11.25 frm 2.55; any read over zero is expansion)

               9:15 - Dec industrial production (+0.6%)

                      Dec capacity utilization (71.8% frm 71.3% in Nov)

               9:55 – U. of Michigan mid-month consumer sentiment index (73.8 frm 72.5 at the end of Dec)