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Focus on Global Events

The primary influences on mortgage rates this week came from outside the U.S. Concerns about the pace of global economic growth and uncertainty about British plans for exiting the European Union were favorable for rates, while the U.S. economic data had little impact. The net effect was that mortgage rates ended the week lower. Investors reduced [...] Read more

Strong Labor Market Data

Stronger than expected labor market data was the primary influence on mortgage rates this week. The stock market remained volatile and posted gains for the week. Mortgage rates ended a little higher. Friday's heavily watched Employment report showed that well above average improvement in the labor market continued for yet another month. Against a [...] Read more

Strong GDP Growth

Weakness in the stock market was good for mortgage rates this week, while the major economic data was mixed and had little impact. As a result, mortgage rates ended the week lower. As was the case this week, stock prices and bond prices often move in opposite directions. The simple reason is that most economic events are influential because they [...] Read more

Fed's the Focus

The primary influence on mortgage rates this week was the Fed minutes, which were considered to be modestly negative. The major economic data released this week was generally weaker than expected, but its impact was minor, and mortgage rates ended a little higher. The minutes from the September 26 Fed meeting released on Wednesday contained no [...] Read more

Rates Inch Higher

Although this week's major U.S. economic data and European Central Bank meeting contained more good news than bad for mortgage rates overall, rates ended slightly higher. The most recent inflation data came in at lower than expected levels. The Consumer Price Index (CPI), a widely followed monthly inflation report that looks at the price change [...] Read more

Trade Negotiations

While there was some major economic data released this week, there were no significant surprises, and its impact on mortgage rates was minor. By contrast, news on trade deals caused a negative reaction, and mortgage rates ended a little higher. The Trump administration long ago expressed an intention to end the NAFTA trade agreement which has been [...] Read more

Turkey, Retail Sales, Housing Starts

Over the past week, increased concerns about Turkey offset stronger than expected economic data, and mortgage rates ended the week with little change. Due to a combination of Turkish government policy decisions, U.S. Fed rate hikes, and other global factors, economic conditions in Turkey have been getting worse for quite a while. The clearest [...] Read more

No Surprises

While there was major economic data released this week and a Fed meeting, there were no significant surprises. Mortgage rates ended the week a little higher. Friday's key Employment report came in pretty much right on target across the board. Against a consensus forecast of 190,000, the economy gained 157,000 jobs in July. However, upward [...] Read more

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