I’m on call. 15 year fixed is 2.875% 0+0
No surprises for the end of the week. The 10 year bond is down below 1.60% this morning which will keep 30 year mortgage rates at 3.5%.
The latest Jobless Claims numbers came in slightly worse than expected but still at the high end of the consensus range. Last week’s numbers were revised upward slightly (that’s bad for economy, good for rates). All-in-all, we’re still having too many people file new unemployment claims each week for the number of jobs we’re creating.
Personal income and outlays came in at consensus, up 0.3% but last month’s numbers were revised down from 0.5% to 0.3%. Consumers spent more in July, which we talked about last week but income isn’t keeping pace. The net of the news is…