Market Updates – 9/14/18

Although this week’s major U.S. economic data and European Central Bank meeting contained more good news than bad for mortgage rates overall, rates ended slightly higher. The most recent inflation data came in at lower than expected levels. The Consumer Price Index (CPI), a widely followed monthly inflation report that looks at the price change […]

Market Updates – 9/7/18

This week’s economic data was the main influence on mortgage rates, and stronger than expected reports on wages, manufacturing and services caused mortgage rates to move higher. In Friday’s highly anticipated Employment report, investors focused on stronger than expected wage growth. In August, average hourly earnings were 2.9% higher than a year ago, up from […]

Market Updates – 8/31/18

While there was some major economic data released this week, there were no significant surprises, and its impact on mortgage rates was minor. By contrast, news on trade deals caused a negative reaction, and mortgage rates ended a little higher. The Trump administration long ago expressed an intention to end the NAFTA trade agreement which […]

Market Update – 8/24/18

The major economic data released this week was roughly neutral for mortgage rates, and a speech by Fed Chair Powell contained no surprises. As a result, it was a quiet week, and mortgage rates ended a little lower. The housing market data has been somewhat disappointing this year, and the reports released this week did […]

Market Updates – 8/10/18

It was a quiet week with no major surprises. Mortgage rates ended the week slightly lower. The most significant economic data released this week was the inflation data. The Consumer Price Index (CPI), the most closely watched monthly inflation report, looks at the price change for finished goods and services. Friday’s release revealed that inflation […]

Market Updates – 8/3/18

While there was major economic data released this week and a Fed meeting, there were no significant surprises. Mortgage rates ended the week a little higher. Friday’s key Employment report came in pretty much right on target across the board. Against a consensus forecast of 190,000, the economy gained 157,000 jobs in July. However, upward […]

Market Updates – 7/20/18

It was a relatively quiet week for mortgage rates. The major economic data was mixed, and mortgage rates ended a bit higher. Consumer spending accounts for about 70% of economic activity in the U.S., and the retail sales data is a key indicator of growth. Retail Sales unexpectedly turned negative for three months during the […]

Market Updates – 7/13/18

This week was one of the quietest of the year. The major economic data generally matched the expected levels, and mortgage rates ended nearly unchanged. The most significant economic data released this week was the inflation data. The Consumer Price Index (CPI), the most closely watched monthly inflation report, looks at the price change for […]

Market Updates – 7/6/18

The main influence on mortgage rates this week was Friday’s Employment report which was viewed on balance as a little weaker than expected. The Fed minutes and the other data had just a minor impact. As a result, mortgage rates ended lower Against a consensus forecast of 190,000, the economy gained 213,000 jobs in June. […]

Market Updates – 6/29/18

There were few surprises in the data released this week or in the other economic news. It was a quiet week, and mortgage rates ended a little lower. One reason that the Fed has been raising the federal funds rate is that inflation has moved higher in recent months. The Fed’s favored inflation indicator is […]