HomeLoan123

Consumer Spending Lifts Economy

Friday, Jul 26, 2019 By HomeLoan123.

While there were some significant economic events this week, they held few surprises, and mortgage rates ended with little change.

Gross Domestic Product (GDP), the broadest measure of economic activity, revealed modestly stronger than expected growth of 2.1% during the second quarter, but was down from a rate of 3.1% in the first quarter. While the report caused some volatility on Friday, it was pretty close to the expected levels overall, and it had little lasting effect …

Central Banks Dominate

Friday, Jun 21, 2019 By HomeLoan123.

Central banks dominated the movement in mortgage rates in a positive way this week. Stronger than expected economic data and trade news had much less impact, and mortgage rates ended at the lowest levels in more than two years.

Monday, the European Central Bank (ECB) unexpectedly indicated that it might provide additional stimulus measures as soon as next month, which caused a decline in global bond yields, including U.S. mortgage rates. It was unusual to see news of this …

Mixed Home Sales Data

Friday, May 24, 2019 By HomeLoan123.

Increased trade tensions between the U.S. and China were modestly positive for mortgage rates and negative for stocks this week, while the economic data and the Fed minutes had little impact. As a result, rates declined a bit and ended at the lowest levels in over a year.

The U.S. and China appeared to take a couple of steps backward in the trade negotiations this week, and this increased the likelihood that both countries will impose additional tariffs and other penalties …

Fed's the Focus

Friday, Oct 19, 2018 By HomeLoan123.

The primary influence on mortgage rates this week was the Fed minutes, which were considered to be modestly negative. The major economic data released this week was generally weaker than expected, but its impact was minor, and mortgage rates ended a little higher.

The minutes from the September 26 Fed meeting released on Wednesday contained no major surprises, but investors viewed them as slightly more hawkish (meaning in favor of tighter monetary policy) than expected. …