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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 …

Mexican Trade Deal

Friday, Jun 14, 2019 By HomeLoan123.

News of a trade deal with Mexico and a wide range of major economic data caused some volatility this week. The net effect of all the news was minor, however, and mortgage rates ended just slightly higher.

Since consumer spending accounts for over two-thirds of all economic activity in the U.S., the retail sales data is a closely watched indicator of growth each month, and the most recent report revealed that spending has been solid this year. In May, retail sales increased …

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 …

Focus on Trade Talks

Friday, May 10, 2019 By HomeLoan123.

The two main influences on mortgage rates this week, a lack of progress in the trade talks and weak inflation data, both were modestly positive for mortgage rates. As a result, rates ended a little lower.

Last week, senior administration officials suggested that a trade deal between the U.S. and China could be close, so investors were caught off guard on Tuesday when President Trump threatened to increase tariffs on Chinese goods. Trump also said that a good deal was a …

Quiet Week

Friday, Feb 8, 2019 By HomeLoan123.

Sandwiched between recent major economic events and several more later in the month, there was little significant economic news this week, and mortgage rates ended slightly lower.

Investors were mostly focused on bigger picture economic conditions this week, and their primary questions concerned the outlook for global growth. While the forecast for U.S. gross domestic product (GDP) growth in 2019 has held relatively steady around 2.5%, many other regions have been …

Shutdown Effects

Friday, Jan 18, 2019 By HomeLoan123.

Due to the government shutdown, there was little major economic data released this week, and mortgage rates ended slightly higher.

This week was more notable for the economic reports which did not get released rather than the ones that did. Tuesday’s Retail Sales report became the most significant data so far to be delayed by the government shutdown which began on December 22. Since consumer spending accounts for about 70% of all economic activity in the U.S., the …