October 23rd, 2013 10:33 AM by Gary Schiller
Not that much market moving data being reported today. Bonds are slightly higher, which could hopefully lead to slightly lower mortgage interest rates. Stocks are starting the day lower, based in part on reports that China may tighten its’ monetary policy due to signs of rising inflation.
The Mortgage Bankers Association released their Mortgage Purchase Application numbers today for the week ending October 18, 2013 which showed Purchase Applications increasing 1% over last week. The Federal housing finance Agency house Price Index showed that home values for single family houses increased by .03 in August.
Mortgage loan rates are starting the day flat to slightly lower.