is a very light week on the economic calendar. In other words, until Friday when the Big Kahuna of monthly economic reports comes out. The report on employment always has the potential to swing the market in one way or another. It is hard to say what effect it will Brexit is always at the forefront of everyone's mind. Yet, its impact should never be underestimated.
headline News
MBA mortgage applications: Brexit has had a big impact on mortgage rates as investors fly to safer investments in the bond market. Those in the market for a mortgage loan responded in a huge way last week with requests for refinancing of 21,0% applications and purchase up 4.0%. This makes 14,2% of all applications. The average rate on a fixed rate mortgage 30-year fell to 3.66 percent, down 9 basis points.
International Trade: trade deficit of the in the United States increased $3.7 billion in May to $41.1 billion. The deficit in goods was upwards of $ 3.6 billion to $ 62.2 billion while the deficit of services had declined slightly to $21.1 billion. Imports increased by 1.9%. A lot of that was to make a jump in the price of gas, but also cars and consumer goods saw gains. Negative, exports were weaker with the capital goods and civilian aircraft down not bad.
unemployment insurance: Initial jobless claims decreased by 16 000-254 000. The four-week average declined 2,500. Continuing claims declined from 44 000 to 2,124 million. Meanwhile, the four-week average was light 3,000, to 2.15 million.
employment situation: non-farm compensation came back with a vengeance in June after may an incredibly disappointing. There are 287 000 jobs created; 265 000 of them private payroll. The participation rate is also ticked up 0.1% to 62.7%. The downside is that unemployment has increased from 0.2% to 4.9%. Average hourly earnings rose 0.1 percent, and the average work week to 34 hours, 24 minutes. Telecom rose 28,000 after recovering from the strike of workers of Verizon. The manufacturing industry is also up to 14,000 as well as retail, Government and finance.
new mortgages
mortgage rates were still feeling the impact of the Brexit last week. I know it's a business mortgage blog, so it may sound like a broken record, but there really has never been better time to get a mortgage loan. Block now before rates go up.
fixed rate mortgages (service) 30 years on average, 3.41% with a means 0.5 point for the week ending July 7, 2016, down last week when it averaged 3.48%. A year at the present time, 30 years service on average 4.04%.
this week of 15 years was an average of 2.74 percent, 7 basis points, over the week. A year at the present time, 15 years service on average 3.20 per cent.
mortgages to adjustable rate 5 year indexed hybrid Treasury (arm) averaged 2.68% this week with lower average 0.5 points, down last week when there was an average of 2.70%. A year ago, 5-year arm was an average of 2.93%.
stock market
much higher than expected jobs numbers cause stocks bounce back up Friday, recovering all their losses post-Brexit.
the Dow Jones Industrial Average rose 250,86 point at the end of the week 18,146.74. He won 1.1 percent for the week. Meanwhile, the & S P 500 increased 1.3% compared to last Friday's closing. It was 32,00 points Friday to close at 2,129.0. Finally, NASDAQ increased 79,95 points to finish the week at 4,956.76, up 1.9% on the week.
week
Tuesday, July 12
Quicken loans home price indexes (PPIS) Perception (10: 00 a.m. et) - Quicken Loans, retail second mortgage lender in the nation, publishes data every month that compares to what people think their homes are worth with the view of the evaluators. Similar opinions of value often made for smoother purchase and refinance transactions.
ready quicken home value Index (HVI) (10: 00 a.m. EST) - ready Quicken releases data on the values at home, both at the national and regional level. Homeowners can gain a perception of the question if the values increase or decrease and get a better idea of what stick in which concerns fairness.
Wednesday, July 13
MBA Mortgage Applications (7: 00 p.m. EST) - mortgage applications index measure of applications at mortgage lenders. It is a leading indicator for sales of single-family homes and housing.
Thursday, July 14
Jobless Claims (8: 30 p.m. EST) - unemployment new claims are compiled weekly to show the number of individuals for unemployment insurance for the first time. An upward trend indicates a deterioration in the job market. The moving average over four weeks of new claims adjusts weekly volatility.
producer price index (PPI) (8: 30 p.m. EST) - the Producer Price Index measures the average change over time in prices received by domestic producers for the sale of goods and services.
Friday, July 15
Consumer Price Index (8: 30 a.m. EST) - price measure index changes based on the price of a basket of goods and services purchased by consumers.
the retail (8: 30 p.m. EST) - measure retail, total receipts at stores that sell goods and related services to final consumers. Sales are measured by the sale at retail and food service stores. Data are collected from the monthly retail trade survey conducted by the U.S. Census Bureau.
the confidence of consumers (10: 00 a.m. EST) - households of the University of Michigan Consumer Survey Center questions 500 each month on their financial situation and attitudes about the economy. The consumer confidence is directly related to the strength of consumer spending.
is an action-packed (or as action-packed) week as economists get in any case reports. We will have it all covered. If all this mortgage and economic stuff bores you to tears, we have a lot of content House, money and lifestyle to keep you going throughout the week. Subscribe to the Quicken Loans Blogbelow.