Weekly Economic Update – 10.16.17

The two big economic reports last week were released on Friday.  Investors placed more weight on tame inflation data than on strong retail sales figures, causing mortgage rates to slightly improve.  Wednesday’s minutes from the September 20th Fed meeting contained little new information and the reaction was small.  As a result, mortgage rates ended the week a little lower. In September, the Consumer …

Weekly Economic Update – 10.9.17

Last week the major economic data and comments from an important Fed official were viewed as negative for mortgage rates.  This was partially offset by Friday’s report of possible plans for a long-range missile test by North Korea.  As a result, mortgage rates ended the week slightly higher. Much of the data in Friday’s key Employment report was affected by the recent hurricanes.  While …

Weekly Economic Update – 10.3.17

Additional threats from North Korea were positive for mortgage rates early in the week.  However, the announcement of a tax reform plan on Wednesday was negative so the two events were roughly offsetting, and mortgage rates ended the week just slightly higher. On Monday, North Korean officials said that they interpreted recent comments made by President Trump as a declaration of war.  Investors …

Weekly Economic Update – 9.25.17

Last Wednesday’s Fed meeting was viewed as mildly negative for mortgage rates, while threats from North Korea on Friday were slightly positive. As a result, mortgage rates ended the week with little change. For investors, the most notable information from the Fed meeting was that a rapid pace of raising the federal funds rate received support from more Fed officials …

Weekly Economic Update – 9.20.17

Early last week, good news regarding North Korea impacted mortgage rates, while domestic economic data caused little reaction. Mortgage rates ended the week higher, up from the best levels of the year. In recent weeks, investors have reacted to news about North Korea in the expected fashion. Each time North Korea has conducted a missile test, investors have shifted to …

Weekly Economic Update – 9.11.17

An increase in tensions with North Korea was positive for mortgage rates early in the week. Political headlines then caused some volatility later in the week, but the net impact was small. At Thursday’s meeting, the European Central Bank (ECB) essentially postponed a discussion about tapering its bond buying program until its next meeting, so there was little reaction. The …

Weekly Economic Update – 9.05.17

Last week’s highly anticipated inflation data was roughly in line with expectations and had little impact. While an increase in tensions with North Korea was positive for mortgage rates early in the week. However, stronger than expected manufacturing data had an offsetting effect on Friday and as a result, mortgage rates were little changed, remaining near the best levels of …

Weekly Economic Update – 8.29.17

Political news caused some volatility for mortgage rates last week, but the net effect was small. There was little reaction to the economic data or to Friday’s highly anticipated speech by Fed Chair Janet Yellen. Her speech did not include comments about monetary policy. Mortgage rates ended the week slightly lower, near the best levels of the year. Faster economic …

Weekly Economic Update – 8.23.17

Uncertainty surrounding the Trump administration and “dovish” Fed minutes were positive for mortgage rates last week. While Stronger than expected economic data had the opposite effect. While it was a fairly volatile week, the net result of these influences was that mortgage rates ended the week with little change, remaining near the best levels of the year. After several months …

Weekly Economic Update – 8.14.17

Last week low inflation readings and rising tensions with North Korea were good signs for mortgage rates, but strong labor market data was viewed as negative for rates. The net effect was that mortgage rates ended the week just slightly lower, but very little change. Fed officials are hoping for inflation to rise, but the recent data has not cooperated. …