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. …

Weekly Economic Update – 8.7.17

With little fresh news from global central bankers last week, the economic data was the primary influence on mortgage rates. Some reports were positive and some were negative. The net effect was that mortgage rates ended the week slightly lower. The Fed’s target level for inflation is an annual rate of 2.0%. Tuesday’s release of the core PCE price index …

Weekly Economic Update – 7.24.17

Last week’s movement in mortgage rates was mostly due to a more “dovish” investor outlook for the European Central Bank (ECB), as the domestic economic data caused little reaction. Mortgage rates ended the week lower. For years, the ECB has had a program in place to purchase massive quantities of bonds. The most recent extension of the program consists of …

Weekly Economic Update – 7.18.17

Over the past week, comments from Fed officials and weaker than expected economic data were positive for mortgage rates. After rising for the last two weeks, mortgage rates ended last week slightly lower. Every six months, the head of the U.S. Fed testifies before Congress. In her testimony on Wednesday, nearly all of Fed Chair Janet Yellen’s comments simply reiterated …

Weekly Economic Update – 7.10.17

The prospect of tighter monetary policy from the European Central Bank (ECB) was the main influence on U.S. mortgage rates last week. The U.S. economic data caused little reaction, and mortgage rates ended the week higher. Similar to what the U.S. Fed did earlier in the decade, the ECB has been buying massive quantities of government bonds to help push …