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Job Gains Exceed Expectations

The big event this week was Friday's Employment report. The labor market data came in stronger than expected, which was great news for the economy, but it caused mortgage rates to end the week higher. Against a consensus forecast of 160K, the economy added 195K jobs in June, and upward revisions to the figures from prior months added another 70K. [...] Read more

Fed Speeches Drive Markets

It was another incredibly volatile week as investors attempted to determine the impact of last week's Fed announcement on mortgage rates. Early in the week, mortgage rates continued to move higher, but soothing comments from Fed officials caused mortgage rates to reverse direction. After all the daily swings, mortgage rates ended the week a little [...] Read more

Fed Lays Out Plan to Taper

It began as a decent week for mortgage rates. Ahead of Wednesday's highly anticipated Fed meeting, mortgage rates were a little lower on a week-over-week basis, as reflected in the weekly survey from Freddie Mac. Investors, however, pushed rates significantly higher after the Fed statement and press conference. The Fed's massive bond buying [...] Read more

Jobs Data on Target

This week, investors were focused on Friday's monthly Employment report. A high degree of volatility preceded the report, but the net result of the large daily movements was just a small increase in mortgage rates for the week. Against a consensus forecast of 165K, the economy added 175K jobs in May. There were slight downward revisions to the [...] Read more

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