By Jessica Shanahan, Premier Lending LLC adapted from the Shirmeyer Rate Market Report. Mortgage interest rates were mostly flat week over week as economic data was mixed.  Economic data stronger than expected included July Housing Starts, July Industrial Production, July Capacity Utilization, Jobless Claims, and July Leading Economic Indicators.  Economic data weaker than expected included the August New York Empire State Manufacturing Index, the July Core Consumer Price Index (CPI), excluding the food and energy components, and July Building Permits.  The overall CPI was unchanged as expected.  Year over Year, the overall CPI was up 0.8 and core CPI was up 2.2.  The August NAHB Housing Market Index and the August Philadelphia Fed Business Index were in line with expectations.  The minutes from the July FOMC Meeting indicated that the members were divided regarding whether to increase the Fed Funds rate.  Markets currently do not expect the Fed to increase the Fed Funds rate at the September FOMC meeting either.  Rates continue to trade in a narrow range. The Dow Jones Industrial Average is currently at 18,566, down slightly on the week.  The crude oil spot price is currently at $ 48.23 per barrel, up almost $ 4 per barrel on the week.  The Dollar weakened versus the Euro and Yen on the week. Next week look toward Tuesday’s New Home Sales, Wednesday’s FHFA House Price Index, PMI Manufacturing Index Flash, and Existing Home Sales, Thursday’s Durable Goods Orders and Jobless Claims, and Friday’s second look at Q2 GDP, International Trade, and Consumer Sentiment Index as potential market moving events.   Jessica Shanahan jshanahan@premierlends.com Apply online at: http://premierlends.com/apply-now/ 720-833-7964 Office 970-270-2479 Cell 720-438-3993 eFax NMLS License: 1127723 MLO License: 100048262
RE/MAX of Boulder Real Estate Blog

* Article originally posted on RE/MAX Boulder website at http://www.boulderco.com/blog/