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Strong Job Gains

Friday, Jul 5, 2019 By HomeLoan123.

As is common, thin trading conditions helped make the week containing the July Fourth holiday very volatile again. A decline in global bond yields was positive for U.S. mortgage rates early in the week, but stronger than expected job gains had the opposite effect on Friday, and mortgage rates ended with little change.

Following weak results of under 100,000 in May, the economy added a powerful 224,000 jobs in June, which was above the consensus forecast of 160,000. This …

Fed, Jobs, and Wages

Friday, May 3, 2019 By HomeLoan123.

This week was packed with major economic news highlighted by Wednesday’s Fed meeting and Friday’s Employment report. The result was a lot of volatility, but the various influences were offsetting, and mortgage rates ended the week nearly unchanged.

As expected, the Fed made no change to the federal funds rate. The statement released after the meeting noted “solid” gains in recent economic activity and job gains, but it also explicitly acknowledged …

Fed and Labor Market

Friday, Feb 1, 2019 By HomeLoan123.

Major economic events made this a volatile week. Wednesday’s Fed meeting was strongly positive for mortgage rates, while Friday’s Employment report was modestly negative. The net result was a decline in rates for the week.

As expected, the Fed held the federal funds rate steady, but the tone of its statement was more dovish (in favor of looser monetary policy) than expected. In particular, the Fed now will be “patient” in deciding if additional rate …

Labor Market Excels

Friday, Jan 4, 2019 By HomeLoan123.

Strong labor market data mostly offset weak manufacturing data and increased concern about the pace of global economic growth this week, and mortgage rates ended a little lower.

Stronger than expected results for Friday’s key monthly Employment report were negative for mortgage rates, since they raised the outlook for future inflation. Against a consensus forecast of 180,000, the economy added a whopping 312,000 jobs in December. In addition, upward revisions added …

Strong Labor Market Data

Friday, Nov 2, 2018 By HomeLoan123.

Stronger than expected labor market data was the primary influence on mortgage rates this week. The stock market remained volatile and posted gains for the week. Mortgage rates ended a little higher.

Friday’s heavily watched Employment report showed that well above average improvement in the labor market continued for yet another month. Against a consensus forecast of 190,000, the economy added 250,000 jobs in October. The job growth was spread across many sectors of …

Trade Negotiations

Friday, Aug 31, 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. …