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Wage Growth Picks Up

Most of the economic data released over the past week fell short of expectations. However, strong wage growth in Friday's employment report offset some of the weakness perceived in the other data. Mortgage rates ended the week a little lower. Against a consensus forecast of 190K, the economy added 151K jobs in January. This was down from average [...] Read more

Volatile Week

A number of factors caused volatility in global financial markets over the past week. Comments from central bankers around the world, slower growth in China, and U.S. economic data were some of the biggest influences. Despite several large daily moves, the net effect was small, and mortgage rates ended the week with little change. Concerns about [...] Read more

Rates Improve on Overseas Issues

Overseas events were positive for mortgage rates during the first week of the year. The events included geopolitical tensions in North Korea and the Middle East as well as signs of slowing growth in China. Mortgage rates ended the week lower. Several events caused investors around the world to shift their holdings to safer assets. On Monday, Saudi [...] Read more

Home Sales Decline

Over the past week, economic events have had very little effect on mortgage rates. Year-end volatility due to light trading volume has been the more significant influence. Mortgage rates ended the past week just slightly higher. The last batch of data released this year on housing activity showed that we are ending 2015 at better levels than in [...] Read more

Fed Raises Rates

The Fed meeting was essentially the only focus for investors over the past week. Financial markets experienced a great deal of volatility both before and after Wednesday's highly anticipated Fed announcement. The net result for mortgage rates was that they ended the week a little higher. After holding the federal funds rate near zero for seven [...] Read more

Oil Prices Fall

Mortgage rates are affected by many different market forces. Often it is economic data and its impact on the outlook for inflation. This week, the biggest influence on mortgage rates came from the drop in the price of oil and its effects on the stock market. Stocks declined, and mortgage rates ended the week a little lower. The price of oil [...] Read more

ECB Stimulus Disappoints

During a week packed with major economic news, the biggest story came from Europe. On Thursday, the ECB added less stimulus than expected, causing global bond yields to increase sharply. Weaker than expected manufacturing data on Tuesday helped offset the increase in mortgage rates, however. Friday's key labor market data had little net impact. [...] Read more

ECB Hints at More Stimulus

Increased expectations for additional stimulus in Europe were positive for mortgage rates over the past week. The economic data and the Fed Minutes had little impact. Mortgage rates ended the week a little lower. While Wednesday's Minutes from the October 28 Fed meeting caused little reaction, the Minutes from the October 22 European Central Bank [...] Read more

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