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Mortgage Market Update 2/8/18

Mortgage rates moved higher Thursday following the release of stronger than expected economic data.  This morning, weekly Jobless Claims fell to 221,000, well below the consensus forecast of 235,000, to the lowest level in 45 years.  Stocks moved lower on growing concerns about rising interest rates.  Results from today’s 30-year Treasury auction will be released […]

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Mortgage Market Update 2/5/18

Mortgage rates were little changed Monday in quiet trading despite another sharp selloff in stocks.  In economic news, the Institute for Supply Management services index jumped to 59.9, well above the consensus forecast of 56.5, to the highest level since 2005.  No other key data will be released today.

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Mortgage Market Update 2/2/18

Rates inched higher Friday following the release of stronger than expected employment data.  This morning, the Labor Department said nonfarm payrolls rose by 200,000 in January, beating expectations for an increase of 175,000.  The unemployment rate remained at 4.1%, matching estimates.  Average hourly earnings, an indicator of wage growth, rose 0.3%, in line with forecast, […]

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Mortgage Market Update 2/1/18

Rates moved higher again on Thursday following the release of stronger than expected economic data and ahead of tomorrow’s key employment report.  The mortgage-backed securities market worsened late in the day after the Atlanta Federal Reserve Bank raised its forecast for first quarter GDP growth to 5.4% from 4.2%.  The January Employment Report will be released tomorrow […]

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Mortgage Market Update 1/31/18

Mortgage rates were little changed Wednesday ahead of this afternoon’s Fed statement.  The Federal Reserve will wrap up it’s two-day meeting to discuss monetary policy and release a statement at 2:00 PM.  No rate changes are expected, but investors will be seeking clues about the timing and pace of future rate increases.  In economic news, […]

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Mortgage Market Update 1/29/18

Rates moved higher Monday following comments by a European Central Bank (ECB) official who said the ECB should end its bond purchases as soon as the program ends in September.  In the U.S., the December core PCE price index rose 0.2%, matching forecast, and was a tame 1.5% higher than one year ago.  No other […]

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Mortgage Market Update 1/25/18

Rates inched higher Thursday in volatile trading.  This morning, the European Central Bank (ECB) made no monetary policy changes, as expected.  In the U.S., weekly Jobless Claims rose to 233,000, a bit under forecast.  December New Home Sales fell 9.3% to 625,000 annual units, well below expectations.  Stocks moved higher.  Results from today’s 7-year Treasury […]

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