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Jobs Bounce Back

With a Fed meeting, the selection of the next Fed Chair, details about tax reform, and an Employment report, this week had the potential to be extremely volatile. Other than disappointing wage growth, however, there were no significant surprises in any of these areas. Mortgage rates finished the week a little lower. As expected, U.S. jobs bounced [...] Read more

ECB Announces Taper

The most highly anticipated event of the week, the European Central Bank meeting, contained no surprises and caused little reaction. Reports about President Trump's favored pick for the next U.S. Fed Chair caused some volatility during the week but had only a small net effect. The key GDP report also was not much of a market mover. In the end, [...] Read more

Budget Plan Passes

The passage of a budget plan was negative for mortgage rates this week. The economic data had little impact. As a result, mortgage rates ended the week higher. Late Thursday, the Senate voted in favor of a 2018 budget plan. This was a key early step along the path to tax reform. Investors viewed the progress on tax reform as negative for mortgage [...] Read more

Core Inflation Steady

The two big economic reports this week were released on Friday. Investors placed more weight on tame inflation data than on strong retail sales figures, causing mortgage rates to improve. Wednesday's minutes from the September 20 Fed meeting contained little new information and the reaction was small. As a result, mortgage rates ended the week a [...] Read more

Hurricanes Affect Data

Over the past week, the major economic data and comments from an important Fed official were viewed as negative for mortgage rates. This was partially offset by Friday's report of possible plans for a long-range missile test by North Korea. As a result, mortgage rates ended the week slightly higher. Much of the data in Friday's key Employment [...] Read more

Progress on Tax Plan

Additional threats from North Korea were positive for mortgage rates early in the week. However, the announcement of a tax reform plan on Wednesday was negative. The two events were roughly offsetting, and mortgage rates ended the week just slightly higher. On Monday, North Korean officials said that they interpreted recent comments made by [...] Read more

Hurricane Effects

Early in the week, good news regarding North Korea impacted mortgage rates. The economic data caused little reaction. Mortgage rates ended the week higher, up from the best levels of the year. In recent weeks, investors have reacted to news about North Korea in the expected fashion. Each time North Korea has conducted a missile test, investors [...] Read more

Inflation Remains Low

This week's highly anticipated inflation data was roughly in line with expectations and had little impact. An increase in tensions with North Korea was positive for mortgage rates early in the week. However, stronger than expected manufacturing data had an offsetting effect on Friday. As a result, mortgage rates were little changed, remaining near [...] Read more

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