Renaissance Mortgage
7745 Hazelnut Dr., Ste. 210
Frisco, TX 75034
(214) 274-5426
Fax: (214) 618-2626
NMLS: 258097
Renaissance Mortgage
7745 Hazelnut Dr., Ste. 210
Frisco, TX 75034
(214) 274-5426
Fax: (214) 618-2626
NMLS: 258097
Saturday, September 26, 2020
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Market Commentary

Updated on September 25, 2020 10:03:46 AM EDT

Augusts Durable Goods Orders report was posted at 8:30 AM ET this morning, revealing a 0.4% rise in new orders at U.S. factories for big-ticket products such airplanes, appliances and electronics. This was well below expectations of a 1.2% increase, indicating the manufacturing sector was not as strong as thought last month. Even a secondary reading that excludes orders for more costly and volatile airplanes and related items fell short of forecasts. This data is known to have large swings, so the size of the variance isn’t as much of an issue as it would be in other reports. Still, we can consider the report good news for bonds and mortgage rates.

Next week has plenty scheduled that is expected to influence mortgage rates, some of it more than others. The week starts off light and gets more active as it progresses. Monday has nothing of importance scheduled while Tuesday has a moderately important release. Wednesday, Thursday and Friday are extremely busy, including the release of two highly important economic reports. We also have several Fed speaking engagements to watch that may come into play. Throw in the first Presidential debate of the election and we have the makings for a very interesting week. Look for details on all of next week’s activities in Sunday evening’s weekly preview.

 ©Mortgage Commentary 2020

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