Pulse On the Market: Week of October 19, 2016
Rates keep nudging higher. Long term rates, at least, are moving higher, causing the yield curve to steepen. On Friday Fed Chair Janet Yellen alluded to the desire to see inflation run above target. But heck, inflation has not reared its ugly head in decades. Still, the 10-year worsened Friday .5 in price settling at 1.79% while 5-year T-notes and agency MBS prices worsened about .125.
It continues to be a mixed bag. Friday, for example, producer price inflation ran hotter than expected in September while Michigan Sentiment fell to a one-year low for October. The Producer Price Index is more important, but it’s still “two steps forward, one step back.” Retail Sales were mostly in line with forecasts, and then we had Fed Chair Yellen saying that the FOMC should have a debate about running the economy a bit above capacity to try to entice people back into the labor force and to stimulate capital spending.
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Fidelity Bancorp Funding is an Orange, California-based firm providing mortgage options to meet the long-term needs of clients of all ages and scenarios, including Realtors, homebuyers and investors. Founded in 2000, the firm is dedicated to superior standards and best practices, and recently surpassed $9 billion in funding provided nationwide. Fidelity Bancorp Funding specializes in assisting homebuyers or those in complex situations or who need alternative options such as bridge financing to help ensure that they get the deal they want.
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