Mortgage Market Update 9/13/18

Mortgage rates inched lower Thursday as newly released inflation data came in below expectations.  This morning, the August Consumer Price Index (CPI) increased 0.2% and was 2.7% higher than one year ago.  Core CPI, which excludes volatile food and energy components, rose 0.1% and was 2.2% higher year-over-year, down from an annual rate of 2.4% last month.  Separately, weekly Jobless Claims fell to 204,000, below the consensus forecast of 210,000.  The European Central Bank (ECB) lowered its forecast for economic growth this year and next, but confirmed its plans to end bond purchases by year end.  Results from today’s 30-year Treasury auction will be released at 1:00 PM.

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