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Weaker Job Gains

Investors were focused on Friday's Employment report and the policy on tariffs this week. Despite unexpected results on both fronts, however, there was little reaction in mortgage rates, and they finished the week nearly unchanged. Against a consensus forecast of 175,000, the economy added just 104,000 jobs in March. In addition, downward [...] Read more

Job Gains Surge

A wide range of events influenced mortgage rates this week, including important labor market data, a European Central Bank meeting, and government policy changes. Some were positive and some were negative. The net effect was mortgage rates finished the week higher. An upside surprise in job gains in Friday's Employment report was negative for [...] Read more

Housing Starts Rise

While there was some volatility, it was a relatively quiet week for mortgage rates. The major economic data was mixed. In a nice break from the recent upward trend, mortgage rates ended the week with little change. The latest report on housing starts was encouraging. In January, single-family housing starts rose 4% from December. They were 8% [...] Read more

What Happened to Mortgage Rates?

Comments from a European Central Bank official and stronger than expected data on wage growth were negative for mortgage rates this week. Wednesday's Fed meeting contained no surprises and had little impact. The upward trend seen in recent weeks continued, and mortgage rates ended at the highest levels in years. Unfavorable news for mortgage rates [...] Read more

Volatile Week

With a wide range of news this week, mortgage rates experienced a great deal of volatility. Congress reached a deal to fund the government, there was a European Central Bank meeting, and major economic data was released. These influences were offsetting, though, and mortgage rates ended the week with little change. While sales of previously owned [...] Read more

Housing Starts Fall

The upward pressure on mortgage rates continued this week. Investors again favored stocks over bonds. Mortgage rates ended the week higher. Thursday's report on housing starts was certainly disappointing, but a look below the surface indicates that it was not as bad as the headline figures suggest. In December, single-family housing starts [...] Read more

Core Inflation Climbs

There was little good news to be found for mortgage rates this week. Investors continued to favor stocks over bonds, the core inflation data was stronger than expected, and it was reported that China might scale back its purchases of U.S. bonds. As a result, mortgage rates ended the week higher. Investors have started the year very optimistic [...] Read more

Encouraging Housing Data

Strong housing data continued to roll in over the past week. In November, contracts signed to buy new homes surged 18% from October to the highest level since 2007. Contracts signed in November to buy previously owned homes also exceeded the expected levels. Despite the strong data, mortgage rates ended the week a little lower. The recent [...] Read more

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