Mortgage rates are essentially unchanged from Friday as is our recommendation to Cautiously Float your rate.
This week may be defining for the near-term future of Los Angeles mortgage rates. The Core Personal Consumer Expenditures number will be out at 5:30AM, California time. This report is the Fed's favorite gauge on inflation. A stronger than expected number suggests that the American consumer has not slowed down his spending; this would cause the Fed to consider raising rates.
Wednesday, the ISM index reports. This index is a market mover because it's a survey of purchasing executives' potential and actual spending on capital goods. If these folks are spending money (big business) it is expected that they are optimistic about the economy. It's considered the "KING" of all manufacturing indices by Wall Street.
Friday, we get bombarded with important data about employment. More on that later this week. I'll be speaking at Inman RE Connect in San Francisco so I'll be somewhat reactive in my reports. Please check back daily for updates.