Mortgage Weekly Update - Last Week in Review
Foster Weeks publishes a weekly mortgage report which is updated every Monday morning. How is this affecting the San Francisco real estate market? Read our weekly and monthly market reports. Last week loan rates improved slightly."I HAVE NEVER DEVELOPED INDIGESTION FROM EATING MY OWN WORDS." Winston Churchill In last week's issue we wondered...would Thursday's Fed Policy Statement on the economy and inflation line up with Friday's "morning after" release of the inflation-measuring Personal Consumption Expenditure (PCE) Index? Would the Fed look smart, or be served up a hearty helping of their own words to eat?
In true form, the Fed chose their words very carefully, saying that inflation had improved modestly, but that a "sustained moderation...has yet to be convincingly demonstrated." But it's their job to be on guard against inflation - so no real surprises there. But on Friday, along came the PCE Index with some hard data on inflation - and it showed that the current year-over-year pace of inflation is down to a friendly 1.9%. Not bad, and within the Fed's desired range of 1 - 2%. So everyone was reasonably happy, no word-eating was required for the Fed, and home loan rates improved about .125% on the week overall... Read more.
- Foster Weeks
posted by SFResidence.com @ 8:21 AM
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