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Job Gains Surge

The big story this week was that job gains in June were significantly higher than expected. Since faster economic growth adds to future inflationary pressures, though, this was negative for mortgage rates, which ended the week higher. Against a consensus forecast of 210K, the economy added 288K jobs in June, and the figures for April and May were [...] Read more

Q1 GDP Surprise

It was another good week for mortgage rates. Weaker than expected economic growth data and increased concerns about Iraq were favorable for mortgage rates. These factors outweighed the negative impact of improving data in the housing sector, and mortgage rates ended the week a little lower. The biggest surprise this week took place when first [...] Read more

Many Factors Affect Rates

Mortgage rates were influenced by a wide range of factors this week, resulting in a good deal of volatility. Violence in Iraq, comments from the Bank of England, divergent US Treasury auction results, and mixed US economic data all had an impact this week. Overall, the unfavorable news slightly outweighed the favorable, and mortgage rates ended [...] Read more

Solid Job Gains

Ahead of two major economic events, mortgage rates moved higher early in the week. When there were few surprises in either the Employment report or the ECB announcement, though, mortgage rates recovered some of their losses and ended the week just a little higher. This was the first weekly increase in rates in six weeks. After slowing over the [...] Read more

GDP Revised Lower

It was a volatile holiday-shortened week. Mixed US economic data was roughly neutral for mortgage rates. Anticipation of additional stimulus from the European Central Bank (ECB) was favorable, however, and mortgage rates ended the week a little lower. In the big picture, mortgage rates are primarily being driven by indications about the pace of [...] Read more

Growth Data Disappoints

The two biggest reports on economic growth released this week both fell short of the forecasts, which was favorable for mortgage rates. In addition, expectations increased for a bond purchase program by the European Central Bank (ECB), which also was positive for mortgage rates. As a result, mortgage rates ended the week near the lowest levels of [...] Read more

Mortgage Rates Improve Further

It was a light week for economic data, and investors mainly focused on the central banks of the US and Europe. Comments from Fed and ECB officials remained favorable for bonds, and mortgage rates moved down a little during the week, to the lowest levels of the year. At the beginning of the year, the consensus outlook was for a moderate pace of [...] Read more

Big Week Ahead

The last two weeks have been relatively light ones for economic news. Mortgage rates moved a little higher late last week ahead of Easter weekend, and they reversed that increase during this week. Headlines from Ukraine added a short burst of volatility but had little lasting impact. Overall, the economic data released this month has been better [...] Read more

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