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Fed Officials Surprise Investors

Comments from Fed officials and stronger than expected economic data were negative for mortgage rates this week. Renewed concerns about the United Kingdom's exit from the European Union offset a little of the increase, but mortgage rates ended the week higher. Brexit is back in the news. On Tuesday, British Prime Minister Theresa May spoke about [...] Read more

Wage Inflation Picks Up

Mortgage rates showed some nice improvement following Wednesday's release of the Fed Minutes. Friday's key Employment report caused a reversal, however, and mortgage rates ended the week with little change. From the presidential election until the last few days of the year, the trend in yields was upward, and this kept many potential bond buyers [...] Read more

Home Sales Rise

The economic data released this week had little impact on mortgage rates. Tuesday's Bank of Japan meeting also caused little reaction in U.S. markets. Mortgage rates ended the week lower. While it had little market impact, Wednesday's report on sales of previously owned homes exceeded expectations and reached another multi-year high. November [...] Read more

Fed Projects Faster Pace of Hikes

Wednesday's Fed meeting turned out to be negative for mortgage rates. Recent economic data had little impact. As a result, mortgage rates ended the week higher. As widely expected, the Fed raised the federal funds rate by 25 basis points. Unfortunately for MBS, Fed officials also raised their outlook for the pace of future rate hikes. They now [...] Read more

Volatile Week

It was a volatile week for mortgage rates. A wide range of factors, including Italian politics, OPEC, and U.S. economic data, caused significant reactions. The net effect was small, however, and mortgage rates ended the week with little change. On Sunday, Italians will vote on a referendum presented by Prime Minister Matteo Renzi. If successful, [...] Read more

Rates Rise after Election

The unexpected results in the Presidential election caused significant volatility in the markets, both overnight as the likelihood of a Trump victory grew and the next couple of days as investor expectations for the U.S. economy under Trump became the focus. Mortgage rates ended the week at the highest levels of the year, and the Dow stock index [...] Read more

Three Central Bank Meetings

Over the past week, the meeting of the Bank of England and news related to the U.S. election were the main influences on mortgage rates. The U.S. economic data had little impact. The net result was that mortgage rates ended the week a little lower. Three major central banks had meetings over the past week, and none of them made any policy changes. [...] Read more

Inflation and the Fed

Both central bankers and economic data influenced mortgage rates over the past week. Comments from the top two Fed officials caused some volatility but had little net impact. Weaker than expected inflation data was favorable. As a result, mortgage rates ended the week a little lower. Late Friday afternoon, Fed Chair Yellen unexpectedly discussed a [...] Read more

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