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Gold Canyon Mortgage Blog
Just 40% of those ages 25 to 34 led their own household in 2016, and that number has been dropping steadily since 2000 (46%). According to NAHB analysis by economist Natalia Siniavskaia, that missing 6% equates to roughly 2.4 million would-be households. What Happened to Rates Last Week?![]() |
Mortgage backed securities (FNMA 4.50 MBS) gained just +1 basis point (BPS) from last Friday's close which caused fixed mortgage rates to move sideways for the week. Inflation Nation: The July YOY Consumer Price Index was a smidge hotter than expectations with the Core (ex food and energy) beating expectations with a 2.4%YOY gain vs est of a 2.3% gain. The Headline CPI matched expectations with a YOY gain of 2.9% which also matches last month's pace. The July YOY Producer Price Index was one tick off of expectations (3.3% vs est of 3.4%) but still at very elevated levels. When you strip out the more volatile food and energy, the YOY Core reading was 2.7% vs est of 2.8% which is well above the Fed's target inflation rate of 2.0% even though they use PCE instead of PPI to measure inflation. |
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. |
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