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Strong Demand for US Bonds

The economic data released this week contained mixed results and had little impact on mortgage rates. Strong demand for US fixed income securities was the main influence this week, helping mortgage rates end the week a little lower. There were strong indications this week that foreign investors, most likely in Japan and China, increased their [...] Read more

Rates Higher after Fed Minutes

The positive momentum in mortgage rates shifted direction after the release of the Fed Minutes on Wednesday. Investors viewed the Minutes as somewhat positive for stocks and negative for bonds. As a result, mortgage rates ended the week a little higher. The Minutes from the January 29 Fed Meeting revealed that Fed officials remained very divided [...] Read more

Yellen Testifies

The primary influence on mortgage rates this week was new Fed Chair Janet Yellen's semi-annual testimony before Congress. Although there were no significant surprises, maintaining the status quo for Fed policy was taken as good news for stocks and bad news for bonds. Mortgage rates rose during her testimony and ended the week a little higher. [...] Read more

Jobs and Manufacturing Fall Short

This week's key economic data showed that the performance of the economy in January was weaker than expected. The shortfalls caused stocks to decline and mortgage rates to improve, but the impact was surprisingly small. Both the Employment report and the ISM Manufacturing data saw big misses. Against a consensus forecast of 185K, the economy added [...] Read more

Slower Economic Growth

Bad news for stocks was good news for bonds again this week. Weaker than expected economic data hurt stocks and helped mortgage rates improve to the best levels since Thanksgiving. At the start of the year, investors were optimistic that the momentum in economic growth seen during the second half of 2013 would continue during 2014. So far, though, [...] Read more

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

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