| Week of September 4, 2017 |
Mortgage Market Commentary
Last week saw mortgage rates creep slightly downward, even with some strong economic news. The ISM Manufacturing Index surged higher, and Consumer Confidence stepped upward again. This was coupled with GDP being adjusted upward more than expected to a solid 3.0% for the 2nd quarter. However, other data and news helped pull rates downward. The number of new jobs created in August fell short, and the two previous months were notched downward. Inflation continues to be so negligible, that odds of the Fed raising rates again this year are sliding downward. All of this comes against the backdrop of North Korea testing another nuclear weapon and concerns regarding the impact of Hurricane Harvey. Partially due to these events, investors shifted money into the relative safety of US Treasuries and bonds, even though the events may have limited economic impact.
This week is much lighter on the economic front, and with most of the critical monthly data behind us, rates are more than likely to drift about, in a very tight range, unless something dramatic happens.
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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. David.Joyce@grarate.com This email was sent by: Sunbelt Lending Services 211 East Colonial Drive Orlando, FL 32801
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The post Market Watch Update Week of September 4, 2017 appeared first on Orlando Florida.
source
http://www.orlandoflhomesandland.com/market-watch-update-week-september-4-2017/
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