Jeffrey Desrosiers

NMLS # 5294

401-732-4141

jdesrosiers@tmcofne.com

Jeffrey Desrosiers

11.13.15 Mortgage Rate Update

Mortgage rates are dropping slightly again this morning in reaction to some positive news today and the stock market decline.  In economic news the October PPI ( Producer Price Index) which measure wholesale inflation fell 04% versus the 0.1% that was expected.  The year-over-year figure declined 1.6% which is the largest drop since 2009 when they revamped the data.  Core PPI fell 0.3% below the expectation of +0.1%.  This is much better inflation numbers than expected and could give the Fed a reason to reconsider the  hike in rates that they have been publicly supporting over the last few weeks.

In addition Consumer spending slowed in October as retailers reported weaker sales across the country.  The Commerce Department reported that Retail Sales in October rose just 0.1%.  This is below the 0.3% expected.