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Dovish Speech from Yellen

Despite the release of a wide range of major economic data, a speech from Fed Chair Yellen had the biggest influence on mortgage rates over the past week. Her comments were favorable for both stocks and bonds, and mortgage rates ended the week lower. Since the March 16 Fed meeting, several Fed officials have expressed support for tightening [...] Read more

Fed Officials Split

Ahead of the holiday weekend, this week's economic data contained few surprises, and the attacks in Brussels had little impact on U.S. financial markets. As a result, mortgage rates ended the week with little change. At the Fed meeting on March 16, nine Fed officials voted in favor of holding the federal funds rate steady and just one supported a [...] Read more

Fed Changes Guidance

Wednesday's Fed meeting resulted in positive news for mortgage rates. Mixed economic data released over the past week was roughly neutral. Mortgage rates ended the week lower. As expected, the Fed did not change the federal funds rate. However, the statement contained guidance which reduced the expected number of rate hikes in 2016 from four to [...] Read more

ECB Adds Stimulus

The big event over the past week was Thursday's ECB meeting. The stimulus measures announced by the ECB made investors more willing to own riskier assets such as stocks, which was negative for safer assets such as bonds. The small amount of U.S. economic data released over the past week had little impact. As a result, mortgage rates ended the week [...] Read more

Strong Job Gains

A wide range of major U.S. economic data was released over the past week covering the labor market, manufacturing, services, and housing. Overall, the data suggested that U.S. economic growth and inflation were a little stronger than expected. As a result, mortgage rates ended the week higher. Friday's Employment report showed that job gains [...] Read more

Higher Inflation

Mortgage rates spiked higher late last week, as investors bought stocks and sold bonds. The volatility continued this week, but the net effect was favorable for mortgage rates. Despite an upside surprise in the CPI inflation data and stock market gains, mortgage rates ended the week a little lower. The Consumer Price Index (CPI) is the most widely [...] Read more

Trend Continues

With investors focused on the outlook for global economic growth, it was another week of declines in both stocks and mortgage rates. Fed Chair Yellen's comments contained no major surprises and were roughly neutral. Current mortgage rates are not far from the record lows seen in 2012. The trend continued this week as investors displayed a [...] Read more

Wage Growth Picks Up

Most of the economic data released over the past week fell short of expectations. However, strong wage growth in Friday's employment report offset some of the weakness perceived in the other data. Mortgage rates ended the week a little lower. Against a consensus forecast of 190K, the economy added 151K jobs in January. This was down from average [...] Read more

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