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Mortgage bond prices fell last week pushing mortgage interest rates slightly higher. There were large swings throughout the week. Rates were pressured higher Tuesday following stronger than expected producer price index data. Retail sales showed a decline but not as bad as expected. Consumer prices rose higher than expected. The headline figure rose 0.2% and the core rate, which excludes volatile food and energy, rose 0.3%. Fortunately the Greek debt worries continued and some flight to quality buying of mortgage bonds ensued Thursday morning. Unfortunately mortgage bonds still ended the week worse by about 1/4 to 3/8 of a discount point.
Fed Meeting The United States central bank, the Federal Reserve, coordinates the borrowing and lending activities of federally chartered banks. The principal reason the Federal Reserve was created was to reduce severe financial crises. One way of accomplishing this goal is to control the amount of money that flows through the economy. By manipulating the US money supply, the Fed influences inflation, unemployment, and the level of US economic activity. The Fed has a variety of tools that it uses to control the money supply, but its chief policy tool is the manipulation of short-term interest rates. |
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Where people come first! |
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©2011 Design by WR Starkey Mortgage, LLP NMLSR #2146. This is not a guarantee of financing. All borrowers must meet certain underwriting guidelines and credit criteria. Rules and Regulations may apply. Colorado: To check the status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.html If you would like to be removed from receiving these newsletters, Click Here type REMOVE from Mortgage News.
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Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.
Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com
Starkey Mortgage
6025 S. Quebec Street
Suite 110
Centennial, CO 80111
To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.