Market Updates – 07/26/2019

While there were some significant economic events this week, they held few surprises, and mortgage rates ended with little change. Gross Domestic Product (GDP), the broadest measure of economic activity, revealed modestly stronger than expected growth of 2.1% during the second quarter, but was down from a rate of 3.1% in the first quarter. While […]

Market Updates – 7/19/2019

Rising expectations for looser global monetary policy outweighed stronger than expected major U.S. economic data this week, and mortgage rates ended a little lower. Early in the week, comments from European Central Bank (ECB) officials suggested that there may be a rate cut soon to help stimulate economic activity. Then the U.S. Fed’s Williams made […]

Market Updates – 07/12/2019

Stronger than expected inflation data was unfavorable for mortgage rates this week. Highly anticipated testimony from Fed Chair Powell caused some volatility, but its net effect was small. As a result, rates ended the week higher. In June, the Core Consumer Price Index (CPI), which excludes the volatile food and energy components, rose 0.3% from […]

Market Updates – 07/05/2019

Sorry for the delay!  We’re back up and running with weekly updates: As is common, thin trading conditions helped make the week containing the July Fourth holiday very volatile again. A decline in global bond yields was positive for U.S. mortgage rates early in the week, but stronger than expected job gains had the opposite […]

Market Updates – 05/31/2019

Increased trade tensions were positive for mortgage rates and negative for stocks this week, while the economic data contained no surprises and had little impact. Rates ended at the lowest levels in over a year. The economic data took a back seat to the news on trade this week. Investors hoping for signs of progress […]

Market Updates – 05/24/2019

Increased trade tensions between the U.S. and China were modestly positive for mortgage rates and negative for stocks this week, while the economic data and the Fed minutes had little impact. As a result, rates declined a bit and ended at the lowest levels in over a year. The U.S. and China appeared to take […]

Market Updates – 05/17/2019

Weaker than expected economic data was modestly positive for mortgage rates this week. Headlines about the trade negotiations between the U.S. and China caused some volatility but had little net effect. The latest figures released this week on retail sales for April were a good deal weaker than expected with a small decline from March. […]

Market Updates – 05/10/2019

The two main influences on mortgage rates this week, a lack of progress in the trade talks and weak inflation data, both were modestly positive for mortgage rates. As a result, rates ended a little lower. Last week, senior administration officials suggested that a trade deal between the U.S. and China could be close, so […]

Market Updates – 05/03/2019

This week was packed with major economic news highlighted by Wednesday’s Fed meeting and Friday’s Employment report. The result was a lot of volatility, but the various influences were offsetting, and mortgage rates ended the week nearly unchanged. As expected, the Fed made no change to the federal funds rate. The statement released after the […]

Market Updates – 04/26/2019

The big news this week was Friday’s GDP report, and it was favorable for mortgage rates. As a result, rates ended a little lower, ahead of several major economic releases next week. While the headline figure for first quarter GDP, the broadest measure of economic growth, was much stronger than expected, mortgage rates declined after […]