Call us Today:                  
1-877-342-TEAM
(8326)

Call us Today:                  
1-877-342-TEAM
(8326)

Tuesday, December 06, 2022
|

Market Commentary

Updated on December 6, 2022 10:09:24 AM EST

We don’t have anything scheduled for today that is expected to affect mortgage rates. Expect to see the negative tone to continue in bonds, for the most part, until next week’s FOMC meeting. Don’t be surprised to see another intraday revision to rates before closing today, with odds it being an upward move.

Tomorrow has revised 3rd Quarter Productivity numbers set for release at 8:30 AM ET. Higher levels of productivity are thought to allow the economy to expand without inflationary pressures rising. This is good news for the bond market because economic growth itself isnt necessarily bad for bonds. It is the conditions surrounding an expanding economy, such as rising inflation, that hurt bond prices and mortgage rates. Current forecasts are calling for a 0.3% rise in productivity, matching the initial estimate. The stronger the reading, the better the news for the bond market. This report generally does not have a noticeable impact on mortgage pricing though, so it will take a wide variance to draw much attention.

 ©Mortgage Commentary 2022

Print