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Manufacturing Activity Improves

It was a relatively quiet week for mortgage rates. A slightly more bullish economic outlook from the Fed and stronger than expected manufacturing data were the main influences this week. Good news for the economy is negative for mortgage rates, however, and rates ended the week a little higher. As widely expected, there was no change in Fed policy [...] Read more

Jobs Fall Short

With the end of the government shutdown, investors turned their attention to the economic data. The September Employment report was weaker than expected, while the rest of the data released this week was mixed. As a result, mortgage rates ended the week a little lower. Delayed by the shutdown, the September Employment data was released on Tuesday. [...] Read more

Congress Reaches Deal

Congress approved a deal on Wednesday to raise the debt ceiling and to fund the government for a few months. The news lifted both stocks and bonds. The S&P 500 index reached an all-time high. Mortgage rates also improved nicely after the deal was reported. The deal extends the government's borrowing authority until February 7, removing the [...] Read more

Progress in Congress

With government produced economic reports postponed by the shutdown, the budget and debt ceiling discussions in Congress dominated the economic news again this week. The gridlock in Washington and the signs of progress have caused large movements in the stock market, but the impact on mortgage rates has been much more limited, and mortgage rates [...] Read more

Focus is on Congress

The lack of progress in Congress on reaching an agreement on the budget and the debt ceiling was the focus for investors this week. The resulting uncertainty caused investors to shift to safer assets, which helped mortgage rates end the week lower. After a week filled with market moving comments from Congressional leaders, the Republicans and the [...] Read more

No Fed Taper

The most highly anticipated Fed meeting in years captured all the attention this week. The Fed statement caught nearly every investor by surprise, since the Fed did not begin to taper its bond purchase program. Mortgage rates swiftly dropped following the news and ended the week lower. While the vast majority of investors expected a small cut in [...] Read more

Jobs Fall Short

A lack of US military action in Syria caused investors to reverse last week's safety trade, while mixed economic data was roughly neutral. As a result, mortgage rates ended the week higher. Since Fed officials have tied future policy changes to the performance of the economy, investors have reacted strongly to incoming economic data. Nearly all of [...] Read more

Concerns About Syria

Increased concerns about the conflict in Syria caused investors to shift to safer assets this week. Mixed economic data was roughly neutral. As a result, mortgage rates ended the week a little lower. Concerns about the reported use of chemical weapons by the Syrian government and the possibility of increased US involvement has resulted in greater [...] Read more

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