Mortgage Bonds are Unchanged - Gas Prices Falling
Mortgage Bonds are near unchanged in quiet trading ahead of the Christmas holiday. Today’s economic data did little to impact trading.
The big news this past weekend came on Friday night when incoming Federal Housing Finance Agency Chief Mel Watt said that he will delay the upcoming g-fee hikes that are supposed to begin in March 2014. The higher fees are typically passed on to borrowers in the form of higher interest rates.
Consumer spending rose in November and increased by the most in five months, up 0.5%, fueled by a surge in spending on long lasting durable orders. The number was inline with estimates. Personal incomes were up 0.2%, below the 0.5% expected. The rise in spending pushed the personal savings rate down to 4.2% from 4.5% in October.
The holidays did usher in lower gas prices at the pump falling to the lowest levels this year. The national average for a regular gallon of gasoline is at $3.25, the same as last year. AAA said that prices are lower that they were last week, last month and six months ago.
Hope everyone is having a wonderful holiday and if you need anything in regards to your financing, give me a call at 314-744-7806, or visit me by clicking on the link below:
Comments
Post a Comment