Last week, the Fed decided to keep the Fed Funds Rate unchanged at 5.25% but indicated that they will keep a careful watch on all inflation indicators.  The Personal Consumption Expenditure Report came out right after the Fed meeting, a key inflation index, supported the Fed's view that inflation is moderate.

The highly anticipated Jobs Report last week showed 111,000 new jobs in January.  This was below the expected mark of 150,000 new jobs, but revisions to the prior two months added another 80,000 jobs.  All and all, the average monthly new jobs numbers met expectation over the past year.  Thus despite the ups and downs during the week including the Jobs Report, Bonds gained back enough overall to find home loan rates unchanged or improved by 0.125%.

This Week's Economic Forecast:
The economic calendar this week has only a few minor reports.  The upward momentum in Bond prices could continue in the absence of market moving reports. Assuming no surprises, this could help home loan rates improve in the week ahead.

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AJ Nisen

Alan "AJ" Nisen, MBA, Notary
Lafayette Chamber of Commerce Board
Orinda Chamber of Commerce Board
Alamo Merchants Professional Association Board
Danville Chamber of Commerce
Lafayette Rotary

Thank you for your interest in starting a mortgage a conversation with me.  Remember, Bank of America has Industry leading low rates and is a full service bank. Bring me any mortgage offer to compete with to see what we can do for you.  I look forward to serving you in the future!