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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

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

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