Premier Mortgage Group

Mortgage interest rates increased slightly again this past week without much new economic data for the markets to digest.  Economic data of note included weekly jobless claims which fell more than expected and the July Trade Deficit which was less than expected.  July Wholesale Inventories increased 1.3% on expectations that they would increase 0.4%.  Consumer Credit continued to fall in July, down $3.63 billion which was in line with expectations.  The Treasury auctioned $67 billion in 3 Year Notes, 10 Year Notes, and 30 Year Bonds this past week which was met with mixed demand from the markets.

The Dow Jones Industrial Average is currently at 10,433, down about 15 points on the week.  Crude oil futures are currently trading at just over $76 per barrel, up almost $2 per barrel on the week.  The Dollar strengthened versus the Euro and weakened versus the Yen on the week.

Next week look toward Tuesday’s Retail Sales, Wednesday’s Industrial Production, Thursday’s Producer Price Index (PPI) and weekly jobless claims, and Friday’s Consumer Price Index (CPI) as potential market moving events.

Posted in Industry & Market News, Weekly Update