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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

Fed Ends Bond Purchases

The most closely watched economic news this week was Wednesday's Fed meeting. The FOMC statement was a little more upbeat about the economy than expected, as the Fed upgraded its assessment of the performance of the labor market. This was unfavorable for mortgage rates, but the reaction was small, and mortgage rates ended the week just a little [...] Read more

Mortgage Markets Calmer

After a couple of highly volatile weeks, there were few price swings in mortgage rates this week. With no major surprises in the economic data and little new information from central bank officials, mortgage rates ended nearly unchanged from last week. One reason that mortgage rates remain near the best levels of the year is low inflation. The [...] Read more

Week Marked by Volatility

It was a volatile week in the financial markets and wild swings in stock prices caused equally wild swings in MBS prices and mortgage rates. The net result was favorable for mortgage rates, which ended the week marginally lower once again, and they now stand at their lowest level since June 2013. Concern about economic weakness in Europe, China, [...] Read more

US Growth on Track

While the US economy continues to show moderate growth, this week investors grew more concerned about the pace of economic growth outside the US. As a result, they shifted assets to bonds at the expense of stocks, which helped mortgage rates end the week a little lower. Europe is still struggling to recover from the financial crisis and is at risk [...] Read more

Big Events Ahead

Sandwiched between weeks containing the highest level of significant economic events, investors took a breather this week. In addition, the economic data released this week contained few surprises. As a result, mortgage rates ended the week with little change. Between last week's Fed meeting and next week's European Central Bank (ECB) meeting and [...] Read more

Fed Statement Little Changed

Investors were focused almost exclusively on the Fed meeting this week. Shifting expectations about future Fed policy guidance caused a good deal of volatility during the week. The Fed statement contained no major changes, however, and mortgage rates ended the week with little change. Ahead of Wednesday's Fed meeting, investors debated about [...] Read more

Fed Guidance May Change

Increased concerns that the Fed will raise the fed funds rate more quickly than previously expected was the driving factor for mortgage rates this week. Stronger than expected economic data was another negative factor, and mortgage rates ended the week higher. A report from the San Francisco Fed released this week caused investors to question [...] Read more

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