FIRST TEAM’S WEEKLY MORTGAGE WATCH (June 10th, 2018) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES:
- Money moved toward US Treasuries and bonds again last week, as investors sought to shelter from international economic turbulence amid chatter of a trade war.
- This against the backdrop of a Fed willing to let inflation run a little hotter than its “speed limit” and easing oil prices helped push mortgage rates downward.
- The ISM Services Index posted a gain on predictions of a decline, but the firm footing of the economy is not diminishing the risk that traders sense in the marketplace.
- This week’s busy economic calendar mixes with a Fed meeting where experts predict an increase in the Fed’s interest rates.
- While the uptick is unlikely to move markets, the Fed’s economic outlook could press rates upward, especially if Retail Sales and Industrial Production meet or beat analyst’s expectations.
- However, even if the week’s economic data is good, we could see rates moving downward in reaction to the weekend drama over the G7 meeting and the increasing likelihood of a trade war.
- A productive summit with North Korea could push rates and hopes for peace upward.
Want Your Own Mailbox? Go East and Buy Old
“Neither snow nor rain nor heat nor gloom of night stays these couriers from the swift completion of their appointed rounds” is often incorrectly cited as the USPS’ motto. Now, the sight of a postman walking through the neighbor is becoming rarer. Over 65% of contractors have reported that they have been required to install cluster mailboxes. In the western US, that number climbs to 95%. If you like your mail delivered to your house, a new home may disappoint.