Weekly Economic Update – 5.22.17

Growing political uncertainty was good for mortgage rates last week, while the domestic data had little impact.  Mortgage rates ended the week near the best levels since before the November Presidential election. Following the election of Donald Trump, the stock market rallied and mortgage rates rose.  They did so based on pro-growth policy changes planned by President Trump.  On Wednesday, …

Weekly Economic Update – 5.15.17

A victory by Macron in the French election was viewed as negative for mortgage rates early last week, while Friday’s weaker than expected U.S. economic data was positive.  These influences were roughly offsetting, and mortgage rates ended the week with little change. Sunday’s French Presidential election featured one pro-EU candidate, Macron, and one anti-EU candidate, Le Pen.  While Macron remained …

Weekly Economic Update – 5.08.17

We saw a few events last week that caused rates to react negatively.  One being Wednesday’s Fed meeting, and the other the success of French presidential candidate Macron in the polls for their election.  Surprisingly, Friday’s Employment report had little impact.  As a result, mortgage rates ended the week a little higher. As expected, the Fed made no change in …

Weekly Economic Update – 5.02.17

The main influence on mortgage rates last week was events in Europe.  The outcome of Sunday’s French election was bad for mortgage rates, while Thursday’s European Central Bank meeting was mildly positive. The U.S. economic data had little impact and mortgage rates ended the week a little higher. One pro-EU candidate (Macron) and one anti-EU candidate (Le Pen) won the …

Weekly Economic Update – 4.18.17

A wide range of news was positive for mortgage rates last week, and it far outweighed the relatively minor unfavorable influences.  As a result, mortgage rates ended the week lower, at the best levels of the year. Investors grew more concerned about the conflicts in Syria and North Korea and their response was to seek relatively safer investments, including mortgage-backed …

Weekly Economic Update – 4.10.17

A wide range of news was positive for mortgage rates last week.  Hawkish comments from the Fed were the only significant unfavorable influence.  As a result, mortgage rates ended the week slightly lower, near the best levels of the year. Friday’s key Employment report showed that the economy added just 98,000 jobs in March, well below the consensus forecast of …

Weekly Economic Update – 4.3.17

There were two main influences on mortgage rates last week.  The canceled vote on the health care bill was positive for mortgage rates, while an impressive rise in consumer confidence was negative.  The offsetting effects resulted in mortgage rates ending the week with little change. Last week, President Trump was unable to gather enough votes to pass the health care …

Weekly Economic Update – 3.27.17

Over the past week, concerns increased about President Trump’s ability to deliver pro-growth policy changes as quickly as expected.  This was favorable for mortgage rates, and rates ended the week slightly lower. Since the election, stocks have performed very well, while bonds yields have risen.  This was due to expected policy changes under the Trump administration which would boost economic …

Weekly Economic Update – 3.20.17

For a couple of weeks prior to Wednesday’s Fed meeting, comments from Fed officials and stronger than expected economic data caused mortgage rates to rise.  However, the outcome of the Fed meeting was viewed as relatively favorable for mortgage rates, and the trend slightly reversed with last week rates ending slightly back down. As widely expected, the Fed raised the …

Weekly Economic Update – 3.13.17

Last week we saw two factors that were BAD for mortgage rates – stronger than expected U.S. labor market data and increased expectations for tighter monetary policy from the central banks in the U.S. and Europe.  As a result, mortgage rates ended the week higher. On Wednesday, ADP, a private payroll firm, estimated that there were an enormous 298,000 private …