Mortgage Rates Just Slightly Lower Ahead of Yellen Testimony
Tuesday will be Janet Yellen’s testimony as we receive her favorite job number, the JOLTS job report. Expectations are for 4.04 million job openings up slightly from last month’s 4 million openings. In a continuing report throughout the end of the week we’ll receive mortgage delinquencies.
Mortgage rates today, May 21 2018, plus lock recommendations – "Experts" tell you to avoid private mortgage insurance (PMI).Mortgage rates today, May 29, 2019, plus lock recommendations | Mortgage Rates, Mortgage News and Strategy – The mortgage reports mortgage applications fall despite low rates as trade war fears grow – USA TODAY. financial data affecting today’ s mortgage rates.
In the week just passed. Powell’s congressional testimony, with bonds leading off toward higher yields in advance (Tuesday). When Powell’s prepared speech hit the wires (Wed), bonds took some.
Semiannual Monetary Policy Report to the Congress. With regard to inflation, overall consumer prices, as measured by the price index for personal consumption expenditures, increased 1.4 percent over the 12 months ending in May, up from about 1 percent a year ago but a little lower than earlier this year.
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After all of the fanfare around Janet Yellen’s semi-annual testimony. slightly higher against all of the major currencies except British pound while the Dow and 10 year bond yields were unchanged..
Traders tread lightly, waiting for word of Fed’s next rate hike. But ahead of U.S. Federal Reserve Chairwoman Janet Yellen’s upcoming congressional testimony, some caution has returned. The yen moved from around 113.75 versus the dollar to below 113.50 in an hour, after which the Japan stock market’s lunch break resulted in the Nikkei going from down 0.2% to down 0.8%. The Nikkei NIK, -0.44% closed down 1.1%.
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Mortgage Rates Again Moving Higher Mortgage rates are moving slightly higher so far today. The MBS market did not far to well yesterday, and after we got this morning’s first bit of data, they continued to follow the same direction that they have for the past week.
Freddie Mac reported that average mortgage rates fell across the board last Thursday, with the rate for a 30-year fixed rate mortgage seven basis points lower at 3.65 percent. The average rate for a 15-year fixed rate mortgage was six basis points lower at 2.95 percent, and the average rate for a 5/1 adjustable rate mortgage was two basis points lower at 2.83 percent.
The market was looking ahead to Wednesday and Thursday as Yellen will deliver two days of testimony on the U.S. central bank’s semi-annual report on monetary policy and the economy.
Mortgage Rates Lower. According to Freddie Mac’s weekly survey, average mortgage rates were slightly lower last week. The average rate for a 30-year fixed rate mortgage fell by two basis points to 4.13 percent. Discount points were 0.60 as compared to the prior week’s reading of 0.70 percent.