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Volatile Week

Over the past week, mortgage rates were pushed and pulled by unusually large movements in global stock markets. The economic data had little impact. After a volatile week, mortgage rates ended just a little higher. Concerns about slowing global economic growth, particularly in China, caused the U.S. stock market to decline sharply early in the [...] Read more

Inflation Outlook Helps Rates

The Fed Minutes released on Wednesday had a positive impact on mortgage rates. In addition, concerns about the pace of global economic growth reduced inflation expectations, which also was favorable for mortgage rates. As a result, mortgage rates ended lower. The Minutes from the July 29 Fed meeting revealed that Fed officials have mixed views [...] Read more

China Devalues Currency

A surprise move in China helped mortgage rates improve early in the week. Stronger than expected U.S. economic data had the opposite effect later in the week. After the offsetting influences, mortgage rates ended slightly higher. China has long held its currency, the yuan, at a fixed value versus the dollar. On Tuesday, China unexpectedly [...] Read more

Is Fed Rate Hike Near?

During the past week, comments from a Fed official increased investor expectations for a Fed rate hike this year, causing mortgage rates to move a little higher. The week's economic data was mostly right on target and had little net effect. On Tuesday, Fed member Dennis Lockhart gave investors the impression that the first federal funds rate hike [...] Read more

Mixed Home Sales Data

After many weeks with higher than usual volatility due to the Greek debt issues, the past week was a very quiet one for mortgage rates. Greece was no longer a market moving factor, and the economic calendar was very light. Mortgage rates ended a little lower. The recently released housing data contained mixed news. June existing home sales [...] Read more

Retail Sales Disappoint

With the announcement at the beginning of the week of a Greek bailout deal, the focus returned to the economic data. The major retail sales and manufacturing data was weaker than expected, causing mortgage rates to end the week a little lower. The Greek debt drama is not over, but its strong daily influence on global financial markets may be. [...] Read more

China and Greece

Over the past week, U.S. financial markets were influenced primarily by events in China and Greece. Concerns about slower growth in China and increased uncertainty about Greece were both favorable for mortgage rates, which ended the week a little lower. China is the second largest economy in the world, and it is growing at a much more rapid pace [...] Read more

Increased Optimism on Greece

For most of June, shifting sentiment about the situation in Greece has been the main driver of U.S. mortgage rates. Over the past week, mortgage rates gave back the improvement seen during the middle of the month. Optimism grew this week that Greece and its creditors will reach some kind of a deal to avert a Greek default on its debt and the [...] Read more

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