Weekly Mortgage Update: 09/11/2017′
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FIRST TEAM’S WEEKLY MORTGAGE WATCH (SEPTEMBER 10TH, 2017) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES:
- Hurricanes and wildfires certainly have devastating consequences for those impacted, and we don’t want to discount the tragedy or human stories that accompany these events.
- From an economic standpoint, however, the national impact is historically limited. Of course, these aren’t normal times and these events are gigantic and widespread.
- Because we don’t have a clear idea of what the impact will be, we are seeing some money flowing into the relative safety of treasuries and bonds. In many ways, more uncertainty is creeping into the market.
- Will Washington be able to accomplish anything meaningful to improve the economy? Why does the economy continue to power ahead without generating any significant inflation? All of these unknowns appear to be helping hold rates low. We may have more of the same this week.
- The wider spread the devastation is in the southeast, the more likely we are to see rates continue to be pulled slowly downward.
- However, if we get that surprise jumps in the Producer and Consumer Prices Indices, then rates might move upward.
IS YOUR IDENTITY AND CREDIT AT RISK?
Last week, Equifax revealed that it was hacked, and up to 143 million people may have had their information stolen. The data theft snagged names, social security numbers, birth dates, driver’s license numbers, and addresses. The company has responded by launching a website that enables consumers to find if their data was part of the breach. Visit EquifaxSecurity2017.com to learn more, and also be sure to pull your free credit report at AnnualCreditReport.com.
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