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Fed Holds Steady

Wednesday's Fed meeting was viewed as slightly negative for mortgage rates. The success of Macron in holding his lead in the polls for the upcoming French election also was unfavorable. Friday's Employment report had little impact. As a result, mortgage rates ended the week a little higher. As expected, the Fed made no change in the federal funds [...] Read more

Focus on French Election

It was a volatile week for mortgage rates ahead of Sunday's French election. The daily movements were offsetting, however, and mortgage rates ended the week with little change, remaining near the best levels of the year. The first round of the French Presidential election will take place on Sunday. The two candidates who receive the most votes on [...] Read more

Lowest Levels of Year

A wide range of news was positive for mortgage rates this week, and it far outweighed the relatively minor unfavorable influences. As a result, mortgage rates ended the week lower, at the best levels of the year. Investors grew more concerned about the conflicts in Syria and North Korea this week. Their response was to seek relatively safer [...] Read more

Rates Improve Again

Over the past week, concerns increased about President Trump's ability to deliver pro-growth policy changes as quickly as expected. This was favorable for mortgage rates. The economic data had little impact. Mortgage rates again ended the week lower. Since the election, stocks have performed very well, while bonds yields have risen. This was due [...] Read more

Fed Tightens

For a couple of weeks prior to Wednesday's Fed meeting, comments from Fed officials and stronger than expected economic data caused mortgage rates to rise. The outcome of the Fed meeting was viewed as relatively favorable for mortgage rates, however. Rates reversed some of their rise and ended the week lower. As widely expected, the Fed raised the [...] Read more

Strong Job Gains

Stronger than expected U.S. labor market data was negative for mortgage rates over the past week. Increased expectations for tighter monetary policy from the central banks in the U.S. and Europe also were unfavorable. As a result, mortgage rates ended the week higher. On Wednesday, ADP, a private payroll firm, estimated that there were an enormous [...] Read more

Rising Rate Hike Expectations

A shift in expectations toward a faster pace of tightening by the Fed was negative for mortgage rates this week. Stronger than expected economic data also was unfavorable. As a result, mortgage rates ended the week higher. This week, speeches by several Fed officials were more hawkish than expected. This caused investors to expect a faster pace of [...] Read more

Wage Growth Slows

Over the past week, two major economic reports contained mixed news and had offsetting effects on mortgage rates. Investors viewed Wednesday's Fed meeting as favorable for bonds, however, and mortgage rates ended the week lower. The January ISM national manufacturing index was released on Wednesday. The index rose to 56, which was the highest [...] Read more

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