Week Update 7/15/2016
MBS are down -3/32 (FNMA 30-yr 3.0 at 103.16), around 2/32 below morning levels. Today’s Retail Sales and CPI data had little impact on MBS. Consumer Sentiment declined to 89.5, below the consensus of 93.0. The Dow is up 10 points. For the week, MBS fell about 14/32.
Looking ahead, most of next week’s economic data will come from the housing sector. The NAHB housing confidence index will come out on Monday. Housing Starts will be released on Tuesday. Existing Home Sales and the Philly Fed regional manufacturing index will come out on Thursday. In addition, there will be a European Central Bank (ECB) meeting on Thursday which could influence U.S. mortgage rates.