Weekly Economic Updates – 1.30.17

Last week was volatile for mortgage rates.  Influences included central bankers, comments from the Trump administration, and economic data.  The net effect of these factors was very small, and mortgage rates ended the week with little change. On Tuesday, a top official from the European Central Bank (ECB) signaled that the ECB should soon begin to wind down its monthly …

Weekly Economic Update – 1.23.17

Comments from Fed officials and stronger than expected economic data were negative for mortgage rates last week.  Renewed concerns about the United Kingdom’s exit from the European Union offset a little of the increase, but mortgage rates ended the week higher. Well, “Brexit” is back in the news.  On Tuesday, British Prime Minister Theresa May spoke about the UK’s objectives …

Weekly Economic Update – 1.17.17

Mortgage rates showed some small improvement through the beginning of last week, BUT Friday’s inflation data caused a reversal, and mortgage rates ended the week slightly higher than the prior week. Early in the week, investors shifted some assets from stocks to bonds, including mortgage-backed securities (MBS).  Comments from President-elect Trump were one reason that investors sold certain stocks.  In …

Weekly Economic Update – 1.9.17

Happy New Year.  I hope you had a great holiday season with family and friends.  Now that we are back to the “standard” work week, here is 2017’s first economic update. Mortgage rates started the year in the same range as the end of 2016.  Last week, rates started to show some nice improvement following Wednesday’s release of the Fed …

Weekly Economic Update – 12.19.16

As you may have heard, Wednesday’s Fed meeting turned out to be negative for mortgage rates, and rates ended the week higher. As widely expected, the Fed raised the federal funds rate by 25 basis points.  Unfortunately for mortgage rates, Fed officials also raised their outlook for the pace of future rate hikes.  They now forecast three rate hikes in …

May Market Update – Cromford Report

Below is the information from the May Market Update from The Cromford Report. Click here for more details on the Buyer Market Click here for more details on the Seller Market   For Buyers May is often the last month of “buyer season” before the summer slowdown. In anticipation of hotter temperatures, graduations and upcoming summer vacations, many home buyers …