Markets in a Minute | September 18th
The Fed will continue its current course, ending quantitative easing next month. Plans are to keep policy rates low for a “considerable time.”
Fed Chair Yellen expressed concern regarding long-term unemployment and the number of part-time workers. Labor woes could delay rate increases.
Producer prices show little gain and consumer prices remain flat. Low inflation is generally good for rates.
Home builders are more optimistic in September. They report higher traffic and expect the same for pending sales.
Despite builder optimism, housing starts fell from July’s very strong performance. Starts are still above last year’s rate, following the trend of annual improvement.
Getting a mortgage may be easier than people think. Most believe a “very good” credit score is required, and almost half say a 20% down payment is needed.
Note: Ask me about educational materials to help dispel these myths!
Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.