Incline Village Home Loans, Incline Village Home Loan Rates, Incline Village Mortgage Loans, Incline Village Mortgage Loan Rates and Incline Village Mortgage Rates:
The following factors were the primary sources of activity in mortgage rates today:
- Oil at $104.67/barrel down 11 cents. The national average price for a regular gallon of gas at the pumps is $3.47, down from $3.51 a week ago.
- Fed’s Dudley says very accommodative policy needed to forcefully push against economic headwinds.
- Dudley sees considerable amount of time before 6.5% unemployment; could wait even longer to raise rates.
- Fed’s Dudley says failed two tests to begin to taper – evidence that the labor market has shown improvement and information about the economy’s forward momentum that makes him confidant that labor market improvement will continue in the future.
- Financial data firm Markit said its US Manufacturing Purchasing Managers Index declined to 52.8 in September from 53.1 in August. The employment component also declined to a 3-month low.
- Fed’s Fisher says he disagreed with the latest FOMC decision, argued against it.
- Fed’s Fisher wanted a taper of $10B in Treasuries and wanted to keep the $40B in Mortgage buying intact.
As are result of today’s news, bond prices increased by 31 basis points causing mortgage rates to decline.