Septembers’ Fed meeting came and gone. Conclusion is more or less the same as before. No increase but the bias is upward. Still expecting minimum one increase of a 0.25% before end of December 2016.

Mortgage rates remain steady since the release of August employment figures. Amid the latest round of Fed speaker talks of rate increases, the anticipation is one increase of a 0.25% for the remainder of 2016. Last increase was in December 2015.

Mortgage rates are back to record low levels reached in 2012. Turmoil and uncertainties in Europe are driving money back into bond markets.

Housing starts and permit declined in January

European Central Bank hinted more QE on the way; Global rates decline in response.