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 …

Weekly Economic Update – 7.05.17

A hint of a taper in the European Central Bank’s (ECB) bond purchase program drove European yields higher last week, and U.S. yields followed. The U.S. economic data caused little reaction and mortgage rates ended the week higher. In today’s global markets, a change in bond yields in one major region often produces a similar change in other markets. Comments …

Weekly Economic Update – 6.19.17

Weaker than expected retail sales and inflation data was favorable for mortgage rates last week.  However, the Fed meeting was viewed as negative and offset some of the improvement.  Mortgage rates ended the week a little lower, near the best levels of the year. After rising gradually last year, inflation has been on a downward path so far year to …

Weekly Economic Update – 6.12.17

During a light week for economic reports, investors were focused on three big events.  However, there was little reaction from all three.  For the first time in a month, mortgage rates ended the week a little higher, rising from the best levels of the year. Three events on Thursday had the potential to significantly affect mortgage rates.  However, none of …

Weekly Economic Update – 6.5.17

Good news for mortgage rates.  Last week the tame inflation data and weaker than expected labor market readings were favorable for mortgage rates.  Rates ended the week lower, at the best levels of the year. Friday’s report from the Bureau of Labor Statistics showed that the economy added just 138,000 jobs in May, well below the consensus of 185,000.  In …

Weekly Economic Update – 5.31.17

With few new political headlines or major surprises in the economic data, it was a quiet week. Wednesday’s release of the Fed minutes was the biggest market mover, but those gains were offset by small losses on other days.  The end result was that mortgage rates ended the week with little change. Wednesday’s release of the detailed minutes from the …

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 …