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Daily Market Watch for Tuesday, June 19, 2018 (Courtesy of Larry Baer and Market Alert )
Short Term Trend (5 days or less): At a transition point.
Long Term Trend (6 days or more): At a transition point.

The data on tap for this week will likely be sharply overshadowed by developments in the budding trade war between the United States and China.

With the economy chugging along at its best performance level in years -- trade wars and their attendant restrictive trade practices could quickly derail economic growth.

The global uncertainty the trade rift between major economic powers has created has sent capital scrambling to find a safe haven like that offered by US dollar-denominated assets like Treasury debt obligations and agency eligible mortgage-backed securities.

It was this “flight to quality” buying spree that powered last week’s rally in the mortgage market. That’s the good news. The bad news is the “flight to quality” buying support can fade as quickly as it develops.

Earlier this morning the Commerce Department released its May Housing Starts and Building Permit numbers. The data showed the trend in homebuilding remains solid with starts up 11% in the first five months of 2018 compared with the same period last year. The brewing trade war between the US and China sent this report to the far empty corner of mortgage investors’ mindset.

Still to come this week is Wednesday’s May existing home sales numbers. The lightly populated economic news calendar will close out with Thursday’s standard weekly jobless claims numbers.

Weather conditions have improved significantly across most of the nation which creates a window of opportunity for a noticeable improvement for existing home sales. This expectation is already well priced into the mortgage market and therefore will probably have little impact on the current trend trajectory of rates.
Rates Last Updated 6/19/18, 9:40 AM CST 
 Crdt. Score 
 Dbt. Ratio 
  *Rates and terms are subject to change at any time and certain variations, restrictions, or improvements may apply based on creditworthiness, loan amount, property type, etc. APR's do not include mortgage insurance which may be required for LTVs greater than 80%, or closing costs from undetermined third parties including the title company.
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Contact Information
Houston:Jim Norris (RMLO #304627)
12010 Miramar Shores Dr
Houston, Tx 77065
(281) 970-1082 ext 1
(866) 717-4556 ext 1
Houston:Ellen Roloff Norris (RMLO #304630)
12010 Miramar Shores Dr
Houston, TX 77065
281-970-1082 ext 2
866-717-4556 ext 2
Brenham:Gayle Valentine-Hill (RMLO #298234)
Brenham:Sandra Starnes (RMLO #298126)
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