Financial News Update

By Lonnie Glessner | September 17, 2018
  • The August Producer Price Index fell 0.1% versus the 0.2% expected increase due in part to a decline in food prices and a range of services.
  • The Consumer Price Index (CPI) for August rose 0.2%, in line with estimates as higher costs for gasoline and rents were offset by declining costs for healthcare and apparel. On an annual basis, CPI fell to 2.7% from 2.9% in July while the Core CPI fell to 2.2% from 2.4%.
  • Retail Sales were reported up 0.1%, much weaker than the 0.4% increase expected.  July was revised higher to 0.7%. So, on average sales increased 0.4% the last 2 months.
  • The Fed will be reducing their bond purchases for the final time in October as they are currently buying about $10 billion in mortgage bonds and Treasuries. This amount will be dropping to zero by the EOY.

Rate Update–

  • Conventional 30 year 4.875%/APR 4.992%
  • FHA 30 year 4.625%/APR 5.565%
  • FHA 30 year with a 580 Fico Score 5.625%/APR 6.679%
  • FHA 30 year with a 550 Fico Score 5.75%/APR 6.804%
  • VA 30 year 4.625%/APR 4.835%
  • VA 30 year with 550 Fico Score 5.75%/APR 5.96%
  • CHFA First Step (FHA loan) Down Payment Assistance Program 30 year fixed at 5.125%/6.165%
  • CHFA Conventional Down Payment Assistance Program 30 year fixed at 5.375%/APR 5.970%
  • Conventional 3% down with NO PMI 5.50%/APR 5.673%
  • Jumbo 30 year 4.625%/ APR 4.742%
  • Jumbo 7/1 ARM 4.125%/ APR 4.125%
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