Mortgage News for 09/22/2014

Last week we had many more geo-political events moving the mortgage market and mortgage rates around.

Here is a quick summary of last week and upcoming news this week that will affect mortgage rates in Houston, TX and all over the state of Texas:

CPI and core CPI, excluding food and energy, came in lower than expected. This news was good for Houston mortgage rates . Overall consumer prices fell 0.2 percent in August after rising 0.1 percent in July. Analysts projected no change. Excluding food and energy, the CPI was unchanged after gaining only 0.1 percent the month prior.

The bond markets, treasury yields,  and mortgage-backed security yields which were rising for the last two weeks in anticipation of the Fed meeting, eased after the Fed reaffirmed its plans to keep rates low for a “considerable time.” At the end of the week, the Ten Year Treasury yield was down nearly 3 bps and ended at 2.58 percent. Towing the same line, conforming mortgages rates also loosened a bit. At the end of the week the Conforming Fixed 30-year rate leveled out at around 4.08 percent, while the Conforming Fixed 15-year rate finished at around 3.16 percent. All good for Houston mortgage rates.

Here are some items in the news this week that will influence mortgage rates in Houston, TX –

Existing & New Home Sales Data, Durable Goods Orders & GDP for Q2

 

 

 

This entry was posted in Mortgages and tagged , . Bookmark the permalink.