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Mortgage Rates React to Fed

The statement released following Wednesday's Fed meeting was not good for mortgage rates. This week's economic data was roughly neutral. As a result, mortgage rates ended the week higher. Central banks around the world have had a heavy influence on mortgage rates recently. Last week, the increased willingness of the European Central Bank (ECB) to [...] Read more

Foreign Central Banks

Foreign central banks were the main influence on U.S. mortgage rates over the past week. The news from Europe was a net positive, while China's policy change was negative. They mostly offset each other, and mortgage rates ended the week just a little higher. On Thursday, European Central Bank (ECB) President Mario Draghi suggested that the ECB may [...] Read more

Signs of Slower Growth

Over the past week, the effects of a batch of weaker than expected economic reports more than offset a higher than expected inflation reading. As a result, mortgage rates ended the week a little lower. Recent economic data has suggested that the pace of economic growth in the U.S. is slowing. Retail Sales, excluding the volatile auto component, [...] Read more

Jobs Fall Short

Weaker than expected economic data released this week reduced the outlook for future inflation. This caused mortgage rates to improve, and they ended the week at their best levels since April. Friday's key Employment report was disappointing nearly across the board. Against a consensus forecast of 205K, the economy added just 142K jobs in [...] Read more

Yellen Clarifies Fed Policy

This week, mortgage rates gave back some of the improvement seen following last week's Fed meeting. The reversal was helped along by comments from Fed Chair Yellen. Recent economic data was mixed and had little impact. Mortgage rates ended the week a little higher. On Thursday night, Fed Chair Yellen gave her first speech since the Fed meeting on [...] Read more

No Rate Hike

The most highly anticipated Fed meeting in years contained good news for mortgage rates. As a result, mortgage rates ended the week lower. Heading into Thursday's Fed announcement, investors were split about whether the Fed would raise the federal funds rate for the first time since 2006. The Fed chose to make no change. The Fed's Statement cited [...] Read more

Mixed Employment Data

In the face of continued stock market volatility and major economic data, mortgage rates showed surprisingly little movement. For the second straight week, mortgage rates ended with little change. Friday's Employment report came in close to the forecasts overall. A small shortfall in job gains was offset by stronger than expected wage gains and a [...] Read more

Volatile Week

Over the past week, mortgage rates were pushed and pulled by unusually large movements in global stock markets. The economic data had little impact. After a volatile week, mortgage rates ended just a little higher. Concerns about slowing global economic growth, particularly in China, caused the U.S. stock market to decline sharply early in the [...] Read more

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