Jobs, Fed, Trade

Friday, Aug 2, 2019 By HomeLoan123.

Despite key labor market data and a highly anticipated Fed meeting, it was unexpected news about the trade negotiations which had the greatest influence on mortgage rates this week. Increased trade tensions are positive for rates, and they ended at the lowest levels in years.

Thursday, President Trump announced that the U.S. will impose additional tariffs of 10% on $300 billion of goods imported from China beginning on September 1. Trump said that the action will be taken …

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 …

Focus on G20

Friday, Jun 28, 2019 By HomeLoan123.

News on the trade negotiations, comments from central bankers, and the economic data caused some volatility this week. The lasting impact of these events was relatively minor, however, and mortgage rates ended slightly lower.

There have been few new developments in the trade talks between the U.S. and China in recent weeks. Investors have been waiting for the G20 summit this weekend to see how much progress the two sides have made. According to President Trump, he and …

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 …