Minnesota Homes Today Local & National News

Real Estate License 40241196 & NMLS 2657264

  • Home
  • About Us
  • Resources
    • Buyers Guide
    • Sellers Guide
    • Buyer Info
    • Seller Info
    • Home Appraisal
    • Loan Process
    • Loan Programs
    • Loan Checklist
    • Mortgage Glossary
  • Reviews
    • Testimonials
    • Leave a Review
  • Contact Us

What’s Ahead for Mortgage Rates This Week – October 21st, 2024

October 21, 2024 by Bob Elliot

The release of last week’s inflation data has left this week with very few significant data updates. The most important information will come from various Federal Reserve members speaking on different topics. They have consistently emphasized that they will closely monitor the data to decide whether further rate cuts are needed in their upcoming rate decision meeting. Much of the market is optimistic that rate cuts will continue. Additionally, several smaller retail sales data releases are expected soon, which will provide insight into the current strength of the economy.

Retail Sales

Retail sales increased 0.4% in September, with strength in a broad range of categories that overcame weak gas and auto spending, the U.S. Commerce Department said Wednesday. Economists polled by the Wall Street Journal had forecast a 0.3% gain.

Primary Mortgage Market Survey Index

  • 15-Yr FRM rates saw an increase of 0.22% with the current rate at 5.63%
  • 30-Yr FRM rates saw an increase of 0.14% with the current rate at 6.44%

MND Rate Index

  • 30-Yr FHA rates saw a 0.01% increase for this week. Current rates at 6.13%
  • 30-Yr VA rates saw a 0.01% increase for this week. Current rates at 6.14%

Jobless Claims

Initial Claims were reported to be 241,000 compared to the expected claims of 260,000. The prior week landed at 260,000.

What’s Ahead

A surprisingly light week ahead once again, with only the Federal Reserve’s Beige book and S&P Preliminary numbers for the Producer Manufacturing Index.

Filed Under: Financial Reports Tagged With: Financial Report, Jobless Claims, Mortgage Rates

Bob Elliot

Contact Bob Elliot

Broker Agent
GRI, CDPE



Call Today! 612.868.5500

Lic #: 40241196

Free Buyers’ Guide →
Free Sellers’ Guide →

Connect with Us

EqualHousing_RealtorLogos

Categories

  • Home
  • About Us
  • Resources
    • Buyers Guide
    • Sellers Guide
    • Buyer Info
    • Seller Info
    • Home Appraisal
    • Loan Process
    • Loan Programs
    • Loan Checklist
    • Mortgage Glossary
  • Reviews
    • Testimonials
    • Leave a Review
  • Contact Us

Search This Website

Equal_Housing_Opportunity

Located in St. Paul, Minnesota

Copyright © 2025 · Powered by MySMARTblog

Copyright © 2025 · Genesis Sample Theme on Genesis Framework · WordPress · Log in