What is a she shed?
A she shed is a female man cave (only better). It is a dedicated space in the home set aside just for the woman of the house. It can a place for recreation, rejuvenation and enjoying personal activities. Most of all it is a female sanctum dedicated entirely to the woman.
Our modern society has created a very fast paced existence that can be very demanding and that can quickly drain our energy reserves. This is a growing concern for many modern women.
Enter the she shed!
A she shed is by far the best way to recharge your batteries by giving you the personal space to engage in any activity that takes you away from your normal routine or by simply allowing you to chill for awhile.
What Happened to Rates Last Week?
Mortgage backed securities (FNMA 2.500 MBS) gained just +11 basis points (BPS) from last Friday’s close which caused fixed mortgage rates to remain at the same levels as the prior week.
Overview: Overall, the March economic data was very weak. Normally, this would help lower mortgage rates but instead rates ticked up on the reduction of demand on the buy side of the trade as the Federal Reserve purchased fewer MBS than they had the prior week.
Manufacturing: The preliminary March headline Durable Goods Orders crashed to a reading of -14.4 vs est of -11.9. Ex Transportation, it was actually better than expected with a shrinkage of only -0.2 vs est of -5.8.
Consumer Sentiment: The final April University of Michigan’s Consumer Sentiment Index was revised upward from the prelim reading of 71 to 71.8
Taking it to the House: March New Home Sales hit 627K vs est of 645K. Weekly Mortgage Applications were flat at -0..3%. Purchase Applications increased by 2.0% while Refinance Applications dropped by only -1.0%. The February FHFA Housing Price Index MOM change was 0.7% vs et of 0.3%. March Existing Home Sales hit 5.27M vs est of 5.3M.
Stimulation Nation: The House and Senate reached a deal for an additional $484 billion in coronavirus relief
What to Watch Out For This Week:
The above are the major economic reports that will hit the market this week. They each have the ability to affect the pricing of Mortgage Backed Securities and therefore, interest rates for Government and Conventional mortgages. I will be watching these reports closely for you and let you know if there are any big surprises.
It is virtually impossible for you to keep track of what is going on with the economy and other events that can impact the housing and mortgage markets. Just leave it to me, I monitor the live trading of Mortgage Backed Securities which are the only thing government and conventional mortgage rates are based upon.