Real Estate & Mortgage Interest Rate Trends for Illinois

1. (12/17/2012)
Market Update (12/17/2012)
The FOMC meeting went much as anticipated. The Fed will continue purchasing assets until there
is improvement in the labor market. They replaced the language of rates staying low until mid-
2015 with inflation and unemployment targets. These targets are not expected to come any
sooner than mid-2015 so there was not any real changes in expectations. Fiscal Cliff negotiations
are underway and the market will pay close attention to headlines of any compromise or lack
thereof. We have a full economic data calendar this week highlighted by several key pieces of
housing data. We’ll hear from some Fed speakers the early part of the week. There will also be
another round of treasury auctions.
Economic Data/Events in the week ahead:
Monday: Empire Manufacturing, 2yr Treasury Auction
Tuesday: Current Account Balance, NAHB Housing Market Index, 5yr Treasury Auction
Wednesday: MBA Mortgage Applications, Housing Starts, Building Permits, 7yr Treasury Auction
Thursday: Weekly Jobless Claims, GDP Q3, Personal Consumption, Philadelphia Fed
Survey, Existing Homes Sales, Leading Indicators, FHFA House Price Index
Friday: Personal Income, Personal Spending, PCE Deflator, Durable Goods, Cap Goods
Orders, University of Michigan Confidence

2. Mortgage Interest Rate Trends

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