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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

Volatility from Politics

Political news caused some volatility for mortgage rates this week, but the net effect was small. There was little reaction to the economic data or to Friday's highly anticipated speech by Fed Chair Janet Yellen. Her speech did not include comments about monetary policy. Mortgage rates ended the week slightly lower, at the best levels of the year. [...] Read more

Fed Officials Debate Inflation

Comments from Fed officials caused some volatility this week but had little net effect. The economic data caused little reaction. Mortgage rates ended the week nearly unchanged, close to the best levels of the year. Last week's weak inflation data had Fed officials talking this week. To the surprise of many, inflation has declined during each of [...] Read more

Little Reaction to Big Events

During a light week for economic reports, investors were focused on three big events. There was little reaction to the events, however. For the first time in a month, mortgage rates ended the week a little higher, rising from the best levels of the year. Three events on Thursday had the potential to significantly affect mortgage rates. However, [...] Read more

Fed Minutes Reveal Plan

With few new political headlines or major surprises in the economic data, it was a quiet week. Wednesday's release of the Fed minutes was the biggest market mover, but those gains were offset by small losses on other days. Mortgage rates ended the week with little change. Wednesday's release of the detailed minutes from the Fed meeting on May 3 [...] Read more

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