Sep
14

Mortgage Trends For Week of September 14th 2009

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Mortgage rates include co-ops 9-11-09

Mortgage rates held mostly steady last week with little influential economic news or data released. The Federal Reserve’s Beige Book reiterated the prevailing sentiment that economic activity is beginning to firm during the last two months of the summer.
This week has some significant data points due, including both the Producer and Consumer Price Indices, along with retail sales data and industrial production numbers. The market appears to have priced in inflation as a future concern, as increasing price pressures have not flared in many months.

If both indices come in anywhere near expectations, we’ll see inflationary concerns continue to be pushed off into the future. Industrial Production is expected to tic upward again as we have ample evidence that manufacturing and other industrial issues are moving toward some level of recovery.

Retail sales may have the biggest influence this week as consumer spending is expected to remain in check for some time. If sales leap unexpectedly, we could see mortgage rates pushing upward.

Mortgage trend information provided by Larry Weinstein Senior Loan Officers at Preferred Empire Mortgage Company, a sister company of Prudential Douglas Elliman. Chart: New York Times Mortgage Column 9-11-2009.

Comments

  1. Elcorin says:

    Hi, Thanks for article. Everytime like to read you.