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September 2016 Mortgage Rates (Purchase & Refinance)

It should be noted, though, that, although mortgage rates are low today, they may not stay low for long. Mortgage rates change quickly with the economy, and with shifts in market sentiment.

Mortgage-backed securities (MBS) -- the Wall Street asset upon which mortgage rates are "made" -- have been erratic of late, which has rates on shaky ground.

MBS pricing is currently responding to influences on the economy, including the Federal Reserve's monetary policy, the jobs market, and developments in nations abroad (e.g.; Great Britain).

Mortgage rates have been below 3.5% for 10 straight weeks, which is the first time that's happened in history. In September, though, mortgage rates could trend higher; or, shoppers may find rates retreating even lower.

Your luck with the month's mortgage rates will be part-economy, part-psychology, and part good fortune.

Here are some stories of the most relevant stories to watch.

Market Plus: Ted Seifried

Pearson: This is the Friday, September 9, 2016 version of the Market Plus segment. Joining us now is Ted Seifried. Ted, welcome back.

Seifried: Hey, thanks for having me, Mike.

Pearson: We are glad to have you. We were so excited talking corn and beans and wheat on the program we did not get to discuss the cotton market, a little bit of a bounce this week.

Seifried: A little bit of a bounce this week.

Pearson: Where is cotton moving?

Seifried: I'd like to say, as we said during the normal program, one week higher does not a bottom make necessarily. So we'll see. To some extent we get oversold and technically speaking we need to see a bounce off of psychological and technical support. At the moment I think that's kind of where we were in cotton. But I think it does help that grains as a whole had some strength here today and maybe spill over a little bit there. But for the moment I think you still have to be cautious with the idea of higher cotton prices. I think we really need to see much stronger exports before we get really too excited, similar to what we were talking about in hogs. We need a new demand input, whether it's domestic or abroad, that demand increase would change things dramatically. But for right now take it with a grain of salt, you've got to say you like what we saw here today and it does breed a little bit of optimism but I'd be careful about that.

At what point will China stop lending the U.S. money?

At present, the U.S debt to the Chinese government is quickly approaching $1 trillion in treasury bills. At what point will China decide that the U.S. cannot pay them back in full, and stop buying treasury bills?


When they start buy more of the stuff the make themselves and no longer need a trade surplus to make their economy grow so do not need to fiddle with the exchange rate to keep their stuff cheap when priced in $. The time may be coming soon.