Mortgage Market Update February 3-7, 2020

February 3, 2020

Mortgage bonds started off slightly lower while the stock market picked up steam over the weekend.

The coronavirus is still a threat as there are now more than 10,000 individuals infected and 360 people dead.

Later this week we will get ADP employment and BLS job numbers later this week. The market could see upwards of 150,000 job creations but lower weekly and hourly earnings.

February 4, 2020

The S & P is busting higher today as people shrug off the coronavirus even though there are more cases reported.

Mortgage bonds have given back their recent gains as they move lower today. There is room to lose even more.

February 5, 2020

The ADP Employment Report shows that 291,000 jobs were created in January.

The ADP report well exceeded the expectation of 155,000.

CoreLogic forecasts show that home prices are expected to appreciate from 4% to 5.3% in the next year.