David Underwood

Top Flite Financial

  • Home
  • About
    • About Me
    • Licensing
    • Privacy Policy
    • Texas Complaint Notice For Mortgage Bankers
  • Resources
    • First Time Buyer Tips
    • First Time Seller Tips
    • Closing Costs
    • Home Appraisal
    • Home Inspection
    • Loan Programs
    • Loan Process
    • Mortgage FAQ
    • Mortgage Glossary
  • Apply
    • Online Application
    • Apply Now – Short Form
  • Download My Mortgage eGuide!
  • Contact

What’s Ahead For Mortgage Rates This Week – December 9th, 2024

December 9, 2024 by David Underwood

With the CPI and PPI scheduled for release in the upcoming week, the previous week was lightly peppered with a small amount of impactful financial data releases. The highlight was the S&P Manufacturing PMI, which reported final numbers for the year showing better-than-expected improvements in the manufacturing sector. Unemployment data also aligned with expectations, reinforcing the likelihood of a Federal Reserve rate cut remaining on track. Lastly, the Consumer Credit Report had the expected jump just before the Holiday Season as consumers relied on credit to make holiday purchases for the end of the year.

S&P PMI Final

Input cost inflation slowed further, reaching its lowest rate in a year. Meanwhile, output prices increased at a slightly faster pace. The seasonally adjusted S&P PMI stayed below the neutral 50.0 mark, recording 49.7, which indicates only a slight decline in the sector’s health for the month. This was an improvement from October’s 48.5 reading and marked the highest level in the current five-month trend of weakening business conditions.

Unemployment Report

The economy added a seemingly solid 227,000 new jobs in November, but much of the gain was tied to temporary influences instead of resurgence in weakening U.S. labor market. The rebound in hiring followed a paltry 36,000 increase in new jobs in October, when a strike at Boeing and a pair of major hurricanes depressed employment.

Consumer Credit

Total U.S. consumer credit surged in October, rising by $19.2 billion compared to a $3.2 billion gain in the prior month, the Federal Reserve said Friday. This marked the fastest growth since July, reflecting a 4.5% annualized growth rate, up significantly from the 0.8% increase in the previous month.

Primary Mortgage Market Survey Index

• 15-Yr FRM rates saw a decrease of -0.14% with the current rate at 5.96%
• 30-Yr FRM rates saw a decrease of -0.12% with the current rate at 6.69%

MND Rate Index

• 30-Yr FHA rates saw a decrease of -0.10% for this week. Current rates at 6.12%
• 30-Yr VA rates saw a decrease of -0.11% for this week. Current rates at 6.13%

Jobless Claims

Initial Claims were reported to be 224,000 compared to the expected claims of 215,000. The prior week landed at 215,000.

What’s Ahead

A light week, with the largest reports being the Consumer Price Index and Price Producer Index. These have historically been the most impactful reports for inflation.

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

  • « Previous Page
  • 1
  • …
  • 33
  • 34
  • 35
  • 36
  • 37
  • …
  • 287
  • Next Page »

David Underwood Photo


David Underwood


Mortgage Loan Officer
NMLS # 104138
Cell 248-219-3457
Office 586-753-9000
dunderwood@tfhomeloans.com
Topflite home loans logo

How can I help?

Connect with Me

Archives

Recent Articles

  • Creative Ways to Use Rent-to-Own Agreements to Buy a Home
  • The Psychology of Homebuying and Emotions vs. Financial Logic
  • How to Finance Energy-Efficient Home Improvements with a Mortgage

My Licensing Information

Click Here for my licensing information.
Click Here for Branch licensing information.

Top Flite Financial, Inc. NMLS ID# 4181
Equal Housing Opportunity.

Our Location


46869 Garfield Rd
Macomb Twp, MI 48044
Branch NMLS # 209410

Copyright © 2025 · Powered by MySMARTblog

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