Home Loans by Sean Young

Colorado Home Loans | NMLS: 191647

  • Contact
    • Contact Sean
    • About New American Funding
    • About Sean
  • Loan Programs
    • FHA Home Loans
      • FHA Home Loans
    • VA Home Loans
      • VA Funding Fee Table
      • VA Home Loans
    • 3% Down Payment with No Mortgage Insurance
    • HARP 2.0
    • Metro Mortgage Assistance Plus
  • Testimonials
  • Apply Now
  • Blog
  • Metro Mortgage Assistance Plus
  • RealtorĀ® Resources
    • Agent Mastermind Webinars
  • Mortgage Info
    • Mortgage Calculator
    • Closing Costs
    • Document Checklist
    • Home Appraisal
    • Home Inspection
    • Interest Rates
    • Loan Process
    • Mortgage FAQ
    • Mortgage Glossary

What’s Ahead For Mortgage Rates This Week – February 11th, 2019

February 11, 2019 by Sean Young

What’s Ahead For Mortgage Rates This Week – February 11th, 2019Last week’s economic news included Federal Reserve Chair Jerome Powell and weekly readings on mortgage rates and new jobless claims.

Fed Faced with Public Mistrust of Institutions

Federal Reserve Chair Jerome Powel said in a speech to a group of teachers that the Federal Reserve is paddling against a current of public mistrust of the institution. Mr. Powell assured his audience that the Fed was “working in a non-political way” to support the economy.

Mr. Powell said that the Fed was working to earn public trust and said that the Central Bank must be accessible to ordinary Americans and lawmakers. In support of his remarks, Chairman Powell cited three meetings he had with lawmakers and a possible meeting at the White House.

Publicity of a recent dinner with President Trump caused speculation that the Fed may be influenced by the administration. Analysts connected last Monday’s White House dinner with the Fed’s sudden reversal of its plan to raise the target range of the federal funds interest rate. Chairman Powell said that he wanted the nation’s prosperity to be widely shared; he cited “education and mobility” as key components of achieving his goal.

Mortgage Rates, New Jobless Claims

Freddie Mac reported lower mortgage rates with a decrease of five basis points across the board for the three types of mortgages it tracks. Rates for 30-year fixed rate mortgages averaged 4.41 percent, rates for 15-year fixed rate mortgages averaged 3.84 percent.

Rates for 5/1 adjustable rate mortgages averaged 3.91 percent. Last week’s mortgage rates were approximately the same as for a year ago, but analysts said that less buyer competition and more available homes this year would encourage would-be homebuyers into the market.

First-time jobless claims were lower than the prior week at 234,000 new claims filed but were higher than the expected reading of 225,000 new claims filed, which was based on the prior week’s reading of 253,000 new claims filed. The reading for the four-week rolling average of new jobless claims gained 4,500 claims for a reading of 224,750 new claims filed over the most recent four weeks. Analysts said that although the four-week average was higher, it remained near historic lows.

What‘s Ahead

This week’s scheduled economic news includes readings on inflation, retail sales and consumer sentiment. Weekly readings on mortgage rates and new jobless claims are also scheduled.

Sean Young

Sean Young

Sean Young is a Mortgage Loan Officer in the great State of Colorado for the last 21 years, a nationally recognized real estate blogger who loves teaching Social Media, Real Estate Technology, and Continuing Education classes. Sean provides weekly Real Estate Agent Power tips and Tuesday Webinars that give the latest marketing strategies and tips on how to grow, build and increase your visibility, credibility, and brand as a Real Estate Agent. Looking for a Home Loan? Sean and his team can provide you with the expertise, professionalism, and customer service that will ensure that your transaction goes smoothly.

Filed Under: Financial Reports Tagged With: Financial Reports, Interest Rates, Mortgage Rates

Sean Young Loan Officer
Click Here
to Apply Now →

Get a Rate Quote →

Five Star Mortgage Professional

Connect with Me!

Find Out Where Mortgage Rates Are Headed

Loan Program of the Month

Visit Sean's profile on Pinterest.
Sean Young

Browse Articles by Category

Search for a specific subject

Recent Articles

  • 3 Ways To Help Your Kids Deal With The Move
  • 5 Tips To Price Your Home To Sell For Top Dollar
  • Garage Organization Ideas For Your New Home
  • 5 Ways Bridge Loans Help Real Estate Investors Increase Profits
Equal Housing LendingNMLS Consumer Access


DORA

Our Location


5299 DTC Blvd Suite 300
Greenwood Village, CO 80111

Copyright © 2019 · Powered by MySMARTblog