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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

European Yields Rise

Rising yields in Europe drove global bond markets this week. Weaker than expected US economic data and the Fed statement had little impact. As a result, mortgage rates ended the week higher. In a week packed with big economic events in the US, a shift in sentiment in Europe had the greatest influence on US mortgage rates. With bond yields in much [...] Read more

Existing Home Sales Increase

Mixed economic data released this week had offsetting effects on mortgage rates. Positive housing data pushed rates a little higher, while weakness in the details of the March Durable Orders report helped rates reverse some of the increase. For the week, mortgage rates ended just a little higher. The housing data released this week was mixed, but [...] Read more

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