Weekly Economic Update – 11.21.17

For the second straight week, there was little reaction to economic news.  Neither key data on retail sales and inflation, nor the passage of the House tax reform bill had much effect.  Mortgage rates finished the week a little lower. It was clear from Friday’s report on housing starts that home building activity over the last couple of months was significantly impacted …

Weekly Economic Update – 11.13.17

As expected, market moving news was scarce last week, and markets were relatively boring.  The primary source of volatility was Thursday’s release of additional details about the Senate tax plan, but this had just a minor net effect.  Mortgage rates finished the week essentially the same. On Thursday, the Senate released more information about its plans for tax overhaul.  Of note, the …

Weekly Economic Update – 11.06.17

With a Fed meeting, the selection of the next Fed Chair, details about tax reform, and an Employment report, last week had the potential to be extremely volatile.  Other than disappointing wage growth, there were no significant surprises in any of these areas.  Mortgage rates finished the week about the same. As expected, U.S. jobs bounced back in October from …

Weekly Economic Update – 10.31.17

The most highly anticipated event of the week, the European Central Bank meeting, contained no surprises and caused little reaction. Reports about President Trump’s favored pick for the next U.S. Fed Chair caused some volatility during the week but had only a small net effect.  The key GDP report also was not much of a market mover.  In the end, …

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 …