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Job Gains Fall Short

The economic data released this week again fell below the consensus forecasts. Since slower economic growth reduces expectations for future inflation, this was good news for mortgage rates. As a result, mortgage rates ended the week lower, falling to the best levels since early February. Over the past year, the economy has added an average of 266K [...] Read more

Fischer Outlines Fed's Plans

Optimism about Fed policy helped mortgage rates improve early in the week. The rally may have been overdone, however, and the gains were lost later in the week. As a result, mortgage rates ended the week just a little higher. On Monday, Fed Vice Chair Stanley Fischer elaborated on the Fed's plans for monetary policy. He said that it is "widely [...] Read more

Fed Lowers Forecasts

The big story this week was Wednesday's Fed meeting, and the Fed statement was well received by mortgage investors. Also positive for mortgage rates, the economic data released this week fell short of expectations. As a result, rates ended the week lower. For several reasons, the Fed statement caused investors to push expectations for federal [...] Read more

Retail Sales Fall Short Again

Weaker than expected Retail Sales data was favorable news for mortgage rates on Thursday. Events in Europe also helped US mortgage rates this week. As a result, rates ended the week lower. Much like last year, unusually harsh winter weather has slowed economic activity during the first quarter. While economists had forecasted a solid increase, [...] Read more

Strong Job Gains

Friday's stronger than expected Employment data was great news for the economy, but it was negative for mortgage rates. As a result, mortgage rates ended the week higher. The Employment report revealed strength nearly across the board. Against a consensus forecast of 240K, the economy added 295K jobs in February. The Unemployment Rate declined [...] Read more

Retail Sales Fall Short

On the heels of last Friday's strong labor market report, mortgage rates drifted higher during the first half of the week. They reversed direction on Thursday due to a shortfall in the Retail Sales data and ended the week just slightly higher. Retail Sales, which account for about 70% of US economic activity, fell in January due to the large [...] Read more

Job Gains Surge

A positive outlook for the US economy caused investors to shift assets from bonds to stocks this week. The economic data was highlighted by Friday's strong labor market report. Mortgage rates ended the week higher. Investors were shocked by the strength of Friday's Employment data. The economy added 257K jobs in January, which exceeded [...] Read more

GDP Falls Short

The major economic events this week were generally bond friendly. The US GDP data fell short, the Fed statement was very similar to the prior one, and core inflation declined in the Eurozone. As a result, mortgage rates continued their move lower. The first reading for fourth quarter GDP, the broadest measure of economic activity, showed an [...] Read more

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