Is Everyone On Vacation?

  • December 27, 2013

vacationtoonWe are still experiencing some post holiday paralysis with mortgage rates practically stagnant over the past three days. I think you could hear an echo down Wall Street. Investment banks have skeleton crews working the trade desks, which has created a quiet market this week.

  • No economic news was released today. Absolutely nothing relevant to the mortgage market. Not one thing. Mic check.
  • A measure of future U.S. economic growth increased last week while the annualized growth rate slowed the Economic Cycle Research Institute released today. Did anyone else notice?
  • Monday’s most significant data release will be the November Pending Home Sales Index at 10 AM. Economists expect to see a small increase after five consecutive declines. Fingers crossed.

Next week we may see mortgage rates jump around as economic news fills the headlines once again and traders prepare for yearend. Might as well enjoy the quiet while I can, right? Have a good weekend.

By Lindsey Fediuk, Quicken Loans Capital Markets Analyst

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