Core Personal Consumption Expenditure Index (PCE)

Happy Friday! Attached is my weekly rate update check it out!

This week was a step in the right direction as far as mortgage pricing was concerned. We’ve seen rates come back down about 0.25% across the board when compared to last week. 30 year fixed conforming rate is at 5.75% with 1 point.

Today, the Core Personal Consumption Expenditure Index (PCE), the Fed’s favored gauge of consumer inflation, was reported in line with estimates for the month of January. When inflation is high mortgage rates go up.

Still no word from HUD regarding conforming loan limit changes; HOWEVER, as soon as I hear what they are I will be sure to send you a special alert!

Make it a great weekend and remember I am never too busy for ANY of your purchase or refinance mortgage referrals!

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