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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

Focus is on Greece

Worries about Greece had the greatest impact on mortgage rates over the past week. The Fed statement and the U.S. economic data caused some volatility, but had little net effect. Mortgage rates ended lower. A lack of progress in the negotiations between Greece and its creditors has raised concerns for investors. Neither side has indicated much [...] Read more

Greece Trumps U.S. Data

Concerns about Greece overwhelmed stronger than expected U.S. economic data over the past week. Mortgage rates ended a little lower. Headlines about Greece have continued to influence U.S. mortgage rates. On Thursday, it was reported that IMF officials departed from their meeting with Greek officials due to a lack of progress. After months of [...] Read more

Strong Job Gains

A wide range of reports in the U.S. and Europe over the past week indicated improving economic conditions. Unfortunately, good news for the economy is generally negative for mortgage rates, which moved higher. Following stronger than expected manufacturing and construction data earlier in the week, Friday's Employment report exceeded forecasts in [...] Read more

Attention on Greece

News about Greece had the greatest influence on U.S. mortgage rates over the past week. Strong U.S. housing data was offset by weaker data in durable orders and manufacturing. Mortgage rates moved a little lower. The next Greek debt repayment is scheduled for June 5. Without a bailout, there is a risk that Greece will default on its debt. If this [...] Read more

Housing Starts Jump

Mortgage markets generally were quieter than they have been over the last several weeks. The most highly anticipated economic release, the Fed minutes, had little impact. Mortgage rates ended the week a little higher. The minutes from the April 29 Fed meeting released on Wednesday contained no major surprises. According to the minutes, Fed [...] Read more

Volatility Continues

With little connection to this week's economic data, large swings in mortgage rates were seen. Rising rates dominated the first few days, while much of that was reversed on Thursday and Friday. Mortgage rates ended the week a little higher. To understand this week's market action, it is helpful to look at long-term trends. In recent months, bond [...] Read more

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