Also Thursday morning will be the release of the Leading Economic Indicators (LEI) for January. This Conference Board report attempts to predict economic activity over the next three to six months. It is expected to show a 0.5% increase, meaning that economic activity may rise in the near future. A smaller than expected rise would be good news for the bond market and mortgage rates, but the CPI draws much more attention than the LEI. Therefore, for this report to influence mortgage pricing, it will have to show a sizable variance from forecasts and the CPI will have to match estimates.
Today's mortgage loan rate (loan of $500K with no points) 5.28%, still historically low. If your curious to see how this weeks financial reports will affect rates, stay tuned. Feel free to shoot me an email at victoria@buysellnorcal.com.
Rates courtesy of Princeton Capital
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