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ECB Will Purchase Bonds

This week, investors were focused on Thursday's European Central Bank (ECB) meeting. The ECB announced a highly anticipated new bond purchase program. There was a lot of volatility around the announcement, but it had little net effect, and mortgage rates ended the week just a little lower. Beginning in March, the ECB will purchase 60 billion euros [...] Read more

Low Inflation, Low Rates

Weaker than expected economic data was favorable for mortgage rates this week. A surprise announcement from the Swiss National Bank caused a lot of volatility, but had only a small net effect. Mortgage rates again ended the week a little lower. The biggest economic reports released this week contained mostly positive news for mortgage rates. [...] Read more

Impressive 2014 Job Gains

Concerns about the pace of global economic growth caused bond yields around the world to decline this week. The US economic data released this week had little impact. Mortgage rates ended at the lowest levels in over a year. The US labor market finished an impressive 2014 on a high note. The economy added 252K jobs in December, which was a little [...] Read more

Good Start to 2015

Weaker than expected US economic data and concerns about the pace of global economic growth helped bonds and hurt stocks during New Years week. Mortgage rates ended the week a little lower, and they begin 2015 over 50 basis points below the levels seen at the start of 2014. The biggest economic report released this week was Friday's ISM National [...] Read more

Policy Change in China

The primary influence on mortgage rates this week was a reduction in the outlook for global economic growth, mainly due to a policy change in China. Stronger than expected US Retail Sales data offset some of the improvement, however. Mortgage rates ended the week lower, near the best levels of the year. On Monday, Chinese officials unexpectedly [...] Read more

US Strong, Japan Not So Much

This week, economic data outside the US had a greater influence on mortgage rates than relatively strong domestic data. Economic growth around the world continued to fall short, and this helped mortgage rates end the week a little lower. A big miss this week was reported in Japan. Third quarter Japanese GDP declined at an annualized rate of 1.6%, [...] Read more

Job Openings Remain High

The economic news this week contained few surprises. The major data, the US Retail Sales report and third quarter Eurozone Gross Domestic Product (GDP), came in very close to expectations. As a result, mortgage rates ended the week with little change. One other US report released this week has been gaining in prominence since Fed Chair Yellen said [...] Read more

Job Gains Remain Strong

The main story this week was the important monthly Employment report, which showed that wage inflation remains low. The European Central Bank (ECB) made no change in policy and had little impact on US markets. After a quiet four days, Friday's Employment data caused mortgage rates to improve and end the week a little lower. Against a consensus [...] Read more

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