• Mortgage Rates
  • Home Buyer Tips
  • Home Seller Tips
  • Real Estate
  • Around The Home

Michael Inkman

Fairway Independent Mortgage Corporation

  • Home
  • About
    • About Michael
    • Testimonials
  • Types of Loans
  • Mortgage Info
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
    • Get Pre-Approved Now!
    • Closing Costs
    • Home Appraisal
    • Home Inspection
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Mortgage Glossary
    • FAQs
  • Blog
  • Contact

What’s Ahead For Mortgage Rates This Week – October 15th, 2019

October 15, 2019 by Michael Inkman

What’s Ahead For Mortgage Rates This Week – October 15th, 2019Last week’s economic releases included readings on inflation, an essay from Dallas Federal Reserve President Robert Kaplan and the monthly consumer sentiment index. Weekly reports on mortgage rates and new jobless claims were also released.

Inflation Flat in September

Inflation did not change in September; August’s reading showed 0.10 percent growth, which matched the July reading. Falling gasoline prices caused the flat reading. Analysts said that cooling inflation may prompt Federal Reserve policymakers to cut the target Federal Funds interest rate range at their next meeting.

The core inflation rate, which excludes volatile food and fuel sectors rose 0.10 percent in September; analysts expected 0.20 percent growth based on August’s month-to-month inflation rate of 0.30 percent growth.

In related news, Robert Kaplan, President of the Dallas Federal Reserve Bank, said in an essay that he had no pre-determined plan for the Federal Reserve’s Federal Open Market Committee meeting at the end of October. He wrote, “I intend to avoid being rigid or predetermined from here and plan to remain highly vigilant and keep an open mind on whether further action on the federal funds rate is appropriate.”  

Mr. Kaplan cited a concern that he shares with other FOMC members over a pull-back in business spending that could impact consumer confidence and spending Mr. Kaplan wrote that he was “mindful about “asset bubbles” caused by investors seeking higher yields.

Mortgage Rates and New Jobless Claims Fall

Freddie Mac reported lower mortgage rates last week as the average rate for 30-year fixed rate mortgages fell eight basis points to 3.57 percent; the average rate for 15-year fixed rate mortgages fell nine basis points to 3.05 percent and rates for 5/1 adjustable rate mortgages averaged 3.35 percent and three basis points lower. Discount points averaged 0.50 percent for fixed rate mortgages and 0.30 percent for 5/1 adjustable rate mortgages.

First-time jobless claims fell to 210,000 initial claims filed and were lower than the expected reading of 220,000 claims filed. Analysts said that fewer first-time jobless claims indicated minimal threat of layoffs.

October’s Consumer Confidence Index rose to 2.80 points to an index reading of 96 as compared to September’s reading of 93.20 points. Analysts expected an index reading of 92.50 points.

What’s Ahead

This week’s scheduled economic news includes readings on homebuilder confidence in housing market conditions, Commerce Department readings on housing starts and building permits issued. Weekly readings on mortgage rates and first-time jobless claims will also be released.

Financial Reports Tagged: Federal Funds Rate, Financial Reports, mortgage rates

Michael Inkman

Contact Michael


michael@michaelinkman.com
Mobile: (214) 762-4659
NMLS #152707
FIMC
Company NMLS #2289

Browse articles by category

Connect with Me

Sign Up for My FREE e-newsletter!

Let’s Keep In Touch!

  • This field is for validation purposes and should be left unchanged.

Categories

Archives

Quick Links

  • About Us
  • Accessibility Statement
  • Privacy Policy
  • Contact us
Texas Consumer Complaint and
Recovery Fund Notice

Third Party FIMC: bestmortgageblog.com
Equal Housing Opp
Company NMLS #2289
For licensing information, go to: www.nmlsconsumeraccess.org

Privacy Policy | Terms of Use

Complaints may be directed to: (877) 699-0353 or Email us: customerservice@fairwaymc.com.
The content on this website is written by Michael and reflects his opinion, and not the opinion of Fairway Independent Mortgage Corporation.

Fairway Independent Mortgage Corporation
1800 Golden Trail Court
Carrollton, TX 75010

Copyright © 2023 Michael Inkman  ·  All rights reserved   ·   Log In