Saturday, April 13, 2024
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Phil Joseph
Branch Manager
Sr. Mortgage Loan Originator
Over 30 Years' Experience
Movement Mortgage 
Rancho Bernardo Branch
11770 Bernardo Plaza Court #451
San Diego California 92128

Direct: 619.507.3558
Fax: 858.430.2557
Email: Phil@PhilJoseph.com
Website: www.PhilJoseph.com
NMLS# 249549
 
Licensed in California by the Department  of Business
Oversight under the Residential Mortgage Lending Act 417-0015 
 
Movement Mortgage may not be the lender for all products offered on this website. Some loans may be made by a lender with whom American Pacific has a business relationship. Equal Housing Opportunity.
 
Phil Joseph
Branch Manager
Sr. Mortgage Loan Originator
Over 30 Years' Experience
Movement Mortgage 
Rancho Bernardo Branch
11770 Bernardo Plaza Court #451
San Diego California 92128

Direct: 619.507.3558
Fax: 858.430.2557
Email: Phil@PhilJoseph.com
Website: www.PhilJoseph.com
NMLS# 249549
 
Licensed in California by the Department  of Business
Oversight under the Residential Mortgage Lending Act 417-0015 
 
Movement Mortgage may not be the lender for all products offered on this website. Some loans may be made by a lender with whom American Pacific has a business relationship. Equal Housing Opportunity.

Market Commentary

Updated on April 12, 2024 10:09:51 AM EDT

Today’s sole economic data came from the University of Michigan, who posted their preliminary Index of Consumer Sentiment for April at 10:00 AM ET. They announced a reading of 77.9 that was a decline from March’s 79.4 and lower than expectations. The softer reading means surveyed consumers felt better about their own financial situations last month than currently. We consider that good news for bonds and mortgage rates because waning confidence usually translates into weaker consumer spending numbers, limiting economic growth.

Next week brings us a handful of economic releases, another Treasury auction and the Fed Beige Book. One of those reports is considered highly important (March’s Retail Sales) and it starts the week’s activities early Monday morning. There are also plenty of Fed speaking engagements and corporate earnings releases scheduled. We likely won’t see nearly as much volatility in the bond market and mortgage rates as we did this week, but there should still be noticeable moves in rates. This is especially true early in the week. Look for details on all of next week’s calendar in Sunday evening’s weekly preview.

 ©Mortgage Commentary 2024

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