Daily Market Update 9/29/14

Mortgage rates were little changed Monday as stocks moved lower following pro-democracy protests in Hong Kong.  Today’s economic data had little impact on markets.  This morning, the August Core PCE price index, one of the Fed’s preferred measures of inflation, rose 0.1% from July and was a tame 1.5% higher than one year ago.  Personal Income increased 0.3%, in line with forecast.  The National Association of Realtors reported August Pending Home Sales fell 1.0% and were 2.2% lower year-over-year.  A monthly increase of 1.0% had been expected.  No other key data will be released today.

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