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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

Strong Housing Data

Stronger than expected economic data was negative for mortgage rates this week. The passage of the potentially inflationary tax bill in the House and the Senate also was unfavorable. As a result, mortgage rates ended the week higher. The housing market is ending 2017 on a strong note. In November, sales of previously owned homes rose 6% from [...] Read more

Retail Sales Surge

Central bank meetings were the focus this week. Investors viewed the U.S. Fed meeting as positive for mortgage rates, while the European Central Bank meeting provided no surprises and had little impact. However, stronger than expected retail sales data offset the reaction to the Fed, and mortgage rates ended the week with little change. Heading [...] Read more

Government Shutdown Averted

There were few market moving events this week. The Employment report came in on target, and Congress passed the expected bill providing a two-week extension to government funding. Mortgage rates ended the week a little lower. In November, the economy added 228,000 jobs, above the consensus forecast of 190,000. The economy has bounced back from the [...] Read more

Housing Starts Rebound

For the second straight week, there was little reaction to the economic news. Neither key data on retail sales and inflation nor the passage of the House tax reform bill had much effect. Mortgage rates finished the week a little lower. It was clear from Friday's report on housing starts that home building activity over the last couple of months [...] Read more

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