Today’s Mortgage Rate Lock Recommendation: October 29, 2013

Freddie Marmolejo NMLS# 328534. Let’s Talk. (512) 799-0133 American Nationwide Mortgage. Your Texas and California FHA | VA | JUMBO |Reverse Mortgage Depot! MortgageLendingStation.com

Mortgage Bonds are off their best levels as investors sit on their hands and await tomorrow’s FOMC monetary policy statement. This despite a mixed bag of economic data.Image

Retail Sales were weaker than expected in September while inflation at the wholesale level (Producer Price Index) remained tame. Consumer Confidence declined due to the fallout of the government shutdown and debt ceiling issues while the Case Shiller 20-city Index year-over-year showed solid gains.

Ahead of tomorrow’s FOMC statement, that is due out around 2:00pm ET; therefore, I am recommending to cautiously float your mortgage rate until other indicators improve. If anything changes, I will get back to you.

Your Trusted Mortgage Advisor: Freddie Marmolejo   fmarmolejo@americannationwide.com  American Nationwide Mortgage Company NMLS# 13392

Brought to you by Mortgage Market Guide

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