October 2nd, 2015 1:22 PM by Jonathan White
Mortgage Market News for the week ending October 02,
President and CEO
Mortgage Broker | NMLS ID: 3443
Blue Door Mortgage, LLC
1280 Centre Street
Newton, MA 02459
expected economic data released this week reduced the outlook for future
inflation. This caused mortgage rates to improve, and they ended the week
at their best levels since April.
Employment report was disappointing nearly across the board. Against a
consensus forecast of 205K, the economy added just 142K jobs in
September. In addition, there were large downward revisions to
the results from prior months. The economy has added an average of 167K
jobs over the last three months. This level is consistent with an
improving labor market, but it is well below the average monthly job
gains of 260K seen in 2014.
missed the mark with a slight decline from August. They were just 2.2%
higher than a year ago. The Unemployment Rate was unchanged at 5.1%.
report and other recent economic data suggest that the U.S. is feeling
the effect of a stronger dollar and economic troubles overseas. Exports
are on track to post their first annual decline since the financial
crisis. The ISM national manufacturing index released on Thursday dropped
to the lowest level since May 2013. Weakness in the recent data caused
expectations for a Fed rate hike in 2015 to decline substantially.
the ISM national services index will be released on Monday. The Fed
Minutes from the September 17 meeting will come out on Thursday.
These detailed Minutes provide additional insight into the debate between
Fed officials and have the potential to significantly move markets. There
will be Treasury auctions on Tuesday, Wednesday, and Thursday. In
addition, investors will be watching for any escalation of Russian
involvement in the Middle East.
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