Forecast for the Week 
- Manufacturing data opens and closes the week with the Empire State Index on Monday followed by the Philadelphia Fed Index on Thursday.
- Consumer inflation will be shared Tuesday in the Consumer Price Index.
- Housing data will be plentiful with Tuesday’s Housing Market Index and Wednesday’s Housing Starts and Building Permits data.
- October FOMC Meeting Minutes will be released Wednesday as well.
- Weekly Initial Jobless Claims will be released on Thursday.
Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve. In contrast, strong economic news normally has the opposite result. The chart below shows Mortgage Backed Securities (MBS), which are the type of Bond on which home loan rates are based.
When you see these Bond prices moving higher, it means home loan rates are improving—and when they are moving lower, home loan rates are getting worse.
To go one step further—a red “candle” means that MBS worsened during the day, while a green “candle” means MBS improved during the day. Depending on how dramatic the changes are on any given day, this can cause rate changes throughout the day, as well as on the rate sheets we start with each morning.
Chart: Fannie Mae 3.5% Mortgage Bond (Friday November 13, 2015)
The Mortgage Market Guide View…
Getting Out of a Car Lease
Car leases offer advantages for busy business people. Lease payments are typically lower than car loans, they often require lower or no down payments and most major repairs will be covered under warranty. Plus, if you like that new car smell, you can get a brand new vehicle every few years when you turn in your lease for a new one.
- Early termination is the most costly choice. Aside from paying off the balance on the lease and losing the car, penalty fees can add up.
- Selling the car privately requires a lot of legwork but can benefit you if the car has retained enough value compared to the cost of buying out the lease.
- Lease transfer is the simplest and most cost effective way to exit a lease, but it’s not very well known. The process is just as it sounds: your lease is transferred to another credit-worthy driver willing to assume it.
Lease transfers are complicated, and that’s why you should rely on a service such as LeaseTrader or Swapalease where the process has been streamlined. These companies help broker between buyers and sellers, host listings and offer assistance and information to expedite the process.
Of course, there are fees associated with transferring a car lease, but the costs can have far less of an impact on your wallet—not to mention your credit—than terminating your lease early.
Feel free to pass these helpful tips along to your team, clients and colleagues!
Economic Calendar for the Week of November 16 – November 20
|
Date
|
ET
|
Economic Report
|
For
|
Estimate
|
Actual
|
Prior
|
Impact
|
| Mon. November 16 |
08:30
|
Empire State Index |
Nov
|
NA
|
-11.4
|
Moderate
|
|
| Tue. November 17 |
08:30
|
Consumer Price Index (CPI) |
Oct
|
NA
|
-0.2%
|
HIGH
|
|
| Tue. November 17 |
08:30
|
Core Consumer Price Index (CPI) |
Oct
|
NA
|
0.2%
|
HIGH
|
|
| Tue. November 17 |
10:00
|
Housing Market Index |
Nov
|
NA
|
64
|
Moderate
|
|
| Wed. November 18 |
08:30
|
Housing Starts |
Oct
|
NA
|
1206K
|
Moderate
|
|
| Wed. November 18 |
08:30
|
Building Permits |
Oct
|
1137K
|
1103K
|
Moderate
|
|
| Wed. November 18 |
02:00
|
FOMC Minutes |
10/28
|
NA
|
NA
|
HIGH
|
|
| Thu. November 19 |
08:30
|
Jobless Claims (Initial) |
11/14
|
272K
|
276K
|
Moderate
|
|
| Thu. November 19 |
10:00
|
Philadelphia Fed Index |
Nov
|
-1.0
|
-4.5
|
HIGH
|
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Mortgage Info By Michelle Wickett 