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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

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

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