Kristin Johnson

  • About Me
  • Meet Our Team
  • Blog
  • Mortgage Info
    • Buying or Selling a Manufactured Home
    • Docs Required for Prequalification
    • Your Home Loan Process
    • Buyer Info
    • Seller Info
    • Closing Costs
    • Home Appraisal
    • Home Inspection
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Mortgage Glossary
    • Mortgage FAQ
  • Apply Now
  • Contact

What’s Ahead For Mortgage Rates This Week – September 18, 2017

September 18, 2017 by Kristin Johnson

Last week’s economic readings release included reports on inflation, core inflation retail sales and retail sales excluding autos. Consumer sentiment, along with weekly readings on mortgage rates and new jobless claims were also reported.

Inflation Exceeds Expectations, Retail Sales Lag

Consumer prices rose 0.40 percent in August, which surpassed expectations of 0.30 percent growth and July’s reading of 0.10 percent. Core consumer prices, which exclude volatile food and energy sectors, matched expectations with a reading of 0.20 percent growth and exceeded July’s growth of 0.10 percent.

August retail sales fell to -0.20 percent against expectations of no change from July’s reading of 0.30 percent.

Retail sales excluding auto sales grew by 0.20 percent, which was lower than expected growth of 0.40 percent, which was based on July’s growth rate of 0.40 percent.  

Mortgage Rates Hold Steady, Weekly Jobless Claims Dip

Freddie Mac reported no change for averaged fixed mortgage rates; the rate for a 30-year fixed rate mortgage was unchanged at 3.78 percent. Rates for a 15-year fixed rate mortgage averaged 3.08 percent and was also unchanged from last week’s reading. The average rate for a 5/1 adjustable rate mortgage dropped by two basis points to 3.13 percent. Discount points averaged 0.50 percent for fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages. The readings for fixed rate mortgages were the lowest in 2017, and provided an ongoing incentive for home shoppers who continued to face high home prices and slim inventories of homes for sale.

New jobless claims were lower at 284,000 new claims filed than last week and were also lower than the expected reading of 300,000 first-time jobless claims The prior week’s reading reported 297,000 first-time jobless claims.

What‘s Ahead

This week’s scheduled economic reports include readings on home builder sentiment, existing home sales, housing starts and building permits issued. The Fed’s Federal Open Market Committee will issue its post-meeting statement and Fed Chair Janet Yellen will give a press conference. Weekly readings for mortgage rates and new jobless claims will also be released. 

Mortgage Rates Tagged: Mortgage Rates

Kristin Johnson

Contact Kristin


OFFICE 970.460.9607
CELL 303.875.5686
FAX 303.864.7555
kristin.johnson@csbt.com
NMLS #501966

APPLY NOW  
GET A RATE QUOTE

Let’s Keep In Touch!

  • This field is for validation purposes and should be left unchanged.
March 2021
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031  
« Feb    

Categories

Previous Posts

Looking For Something?

Equal Housing Lender
NMLS Consumer Access

Where We're Located

map to office
Directions from I-25
• Take Exit 392 for Windsor and head East.
• Go 3.5 miles and take a left onto 12th Street.
• Take first right at West Ash Street.
• Turn right into the first parking lot/office building complex. The building has green awnings.
Please call if you need assistance.

Copyright © 2021 Kristin Johnson  ·  All rights reserved   ·   Log In