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Inflation Remains Tame

Mortgage rates began the week with downward momentum following last Friday's big miss on the Employment report. That, combined with low inflation, more than offset this week's slightly stronger than expected economic growth data, and mortgage rates ended the week a little lower. With the Fed's recent decision to reduce its bond purchases, [...] Read more

Improving Economic Activity

The economic data released this week reflected continued improvement in the economy, but there was little market reaction. While some volatility was seen during the final days of 2013, mortgage rates ended the week with little net change. Heading into the new year, recent economic data has provided many reasons to be optimistic about the [...] Read more

Quiet Holiday Week

The mortgage market was quiet during Christmas week. The few economic reports released this week, including Durable Orders, Jobless Claims, and New Home Sales, were mostly stronger than expected. As a result, mortgage rates ended the week a little higher. While the headline results for this week's New Home Sales report revealed a decline from the [...] Read more

Fed Announces Taper

Heading into Wednesday's highly anticipated Fed meeting, investors were divided about what the Fed statement would reveal. The Fed announced that it will begin to scale back its bond purchase program. The stock market rallied after the news, but mortgage rates rose modestly and ended the week a little higher. The Fed announced that it will begin [...] Read more

Fed May Taper Soon

Stronger than expected economic data and progress on a budget deal in Congress caused investors to move forward their expected timing for the Fed to begin to scale back its bond purchases. This hurt both stocks and bonds, and mortgage rates ended the week a little higher. Fed officials have revealed several conditions which will help them [...] Read more

Fed Minutes Reveal Split

Once again, the biggest influence on mortgage rates was shifting sentiment about future Fed policy. The Fed Minutes and statements from Fed officials caused investors to move forward their expected timing for scaling back the bond purchase program. As a result, mortgage rates ended the week a little higher. The Minutes from the October 30 Fed [...] Read more

Dovish Statements from Yellen

During a light week for economic data, the biggest influence on mortgage rates was testimony from Janet Yellen. Yellen, the nominee to be the next Fed Chief, revealed strong support for the Fed's bond buying program. This news helped mortgage rates end the week lower. Janet Yellen testified this week at her confirmation hearing to replace Ben [...] Read more

Job Gains Surge

Investors, highly focused on the economic data, had a lot to consider this week. The Economic Calendar was packed, and nearly all the major reports exceeded expectations. Stronger economic growth is negative for mortgage rates, and rates ended the week higher. A shockingly strong Employment report caused a swift increase in mortgage rates on [...] Read more

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