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22939 West Hacienda Drive | Grass Valley, CA 95949

Juli Matta

Juli@JuliMatta.com
Ph: (530) 268-3333 | Cell: (530) 320-0004 | Fax: (530) 268-9674

Your “SOURCE” for all home loan needs!

Ca BRE #01031943 | NMLS #355267

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22939 West Hacienda Drive | Grass Valley, CA 95949

Juli Matta

Juli@JuliMatta.com
Ph: (530) 268-3333 | Cell: (530) 320-0004 | Fax: (530) 268-9674

Your “SOURCE” for all home loan needs!

Ca BRE #01031943 | NMLS #355267

Saturday, April 13, 2024
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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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