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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

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

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