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Mortgage Market Update 12/12/18

Mortgage rates inched higher Wednesday reflecting yesterday’s late market activity.  In economic news, the November Consumer Price Index (CPI) was unchanged, matching forecast.  Core CPI, which excludes volatile food and energy components, rose 0.2%, in line with expectations, and was 2.2% higher than one year ago.  Results from today’s 10-year Treasury auction will be released at […]

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Mortgage Market Update 12/7/18

Rates held steady Friday as key employment data came in below expectations.  This morning, the Labor Department reported the economy added 155,000 jobs in November, below the consensus forecast of 190,000.  The Unemployment Rate remained at 3.7%.  Average Hourly Earnings rose 0.2%, a bit below estimates, and were 3.1% higher than one year ago.  Separately, Consumer […]

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Mortgage Market Update 11/29/18

Rates were little changed Thursday as newly released economic data had little impact.  This morning, weekly Jobless Claims rose to 234,000, above the consensus forecast of 220,000.  The figures may have been distorted by the shortened holiday week.  The October core PCE price index, the Fed’s preferred measure of inflation, rose 0.1%.  An increase of […]

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Mortgage Market Update 11/28/18

Rates inched lower Wednesday following Federal Reserve Chairman Jerome Powell’s speech to the Economic Club of New York during which he indicated interest rates “remain just below the broad range of estimates of the level that would be neutral for the economy”.  Investors perceived the comments to indicate the Fed may pause from raising rates further after […]

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Mortgage Market Update 11/21/18

Mortgage rates were little changed Wednesday despite the release of weaker than expected economic data.  This morning, weekly Jobless Claims rose to 221,000, above the consensus forecast of 215,000.  Durable Goods Orders fell 4.4%, below expectations for a decrease of 2.5%.  October Existing Home Sales increased 1.4%, slightly above estimates, but were 5.1% lower than […]

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Mortgage Market Update 11/15/18

Mortgage rates inched lower Thursday on concerns about the slowing pace of global economic growth and uncertainty about the British exit from the European Union.  In the U.S., October Retail Sales jumped 0.8%, above the consensus forecast for an increase of 0.5%.  Weekly Jobless Claims came in close to expectations.  The Philly Fed regional manufacturing index […]

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Mortgage Market Update 11/8/18

Rates held steady Thursday ahead of this afternoon’s Fed announcement.  The Federal Open Market Committee will release a policy statement at 2:00 PM.  No rate changes are expected, but investors will be watching for clues about the pace and timing of future increases.  In economic news, weekly jobless claims fell to 214,000, in line with […]

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Mortgage Market Update 11/7/18

Rates inched lower following yesterday’s election results.  Democrats gained control of the House, as widely expected.  Increased gridlock will likely derail efforts to pass additional tax cuts, resulting in smaller budget deficits and less borrowing by the federal government.  Stocks rallied.  Results from today’s 30-year Treasury auction will be released at 1:00 PM.

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Mortgage Market Update 11/6/18

Mortgage rates were little changed Tuesday after moving higher last week on strong employment data.  This morning, the Job Openings and Labor Turnover Survey, or JOLTS, reported 7.01 million job openings, down from last month’s record high 7.29 million.  The Fed began its periodic two-day Federal Open Market Committee meeting this morning to discuss monetary […]

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