Market Watch Update Week of August 28, 2017
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Mortgage Market Commentary
As the summer of 2017 heads into its final week, mortgage rates continue what has begun to feel like a long vigilant watch for either accelerating economic growth or increasing economic pressure. As we wait, rates have drifted very slowly down from last November’s spike upward. The week ended with the annual meeting of economic heavyweights in Jacksons Hole, WY. During some years, the words from central bank leaders have rocked markets. This year, we didn’t even get a fizzle. No surprises were expected and none were delivered. Many of our trading partners are in the same boat. We certainly shouldn’t complain about years of economic improvement, but the slow rate of growth is frustrating for those who would like to see their economies improving at a more rapid pace.
The week features many significant economic reports on employment, inflation, and manufacturing. If all the big reports can generate better-than-expected results, then rates might move upward. But the tragic events in Texas and potential economic impact may help hold rates from rising very much.
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| This is not a commitment to lend. Loan programs, rates and terms subject to change without notice and are subject to property and credit approval. For informational purposes only. Restrictions may apply. Equal Housing Lender. PHH Home Loans, LLC d/b/a Sunbelt Lending Services, 300 South Park Place Boulevard, Suite 150, Clearwater, FL 33759. NMLS ID # 4256 (www.nmlsconsumeraccess.org). Georgia Residential Mortgage Licensee #20292. New GRA Email Address This email was sent by: Sunbelt Lending Services 211 East Colonial Drive Orlando, FL 32801
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