Category Archives: Market Update

Mortgage rates were little changed Wednesday ahead of today’s Federal Reserve announcement.  The Fed will wrap up its two-day Federal Open Market Committee meeting to discuss monetary policy and release a statement at 2:00 PM, followed by Fed Chairwoman Janet Yellen’s press conference … Continue reading

Posted in Market Update | Comments Off

Mortgage rates held steady ahead of this week’s Fed meeting.  The Federal Open Market Committee of the Fed will meet on Wednesday to discuss monetary policy and release a policy statement at 2:00 PM.  It is widely expected that the … Continue reading

Posted in Market Update | Comments Off

Mortgage rates were little changed Friday following the release of key employment data for November.  The economy added 228,000 jobs last month, beating the consensus forecast of 190,000.  The unemployment rate was unchanged at 4.1%.  Average hourly earnings rose 0.2%, … Continue reading

Posted in Market Update | Comments Off

Rates inched lower Wednesday as global bond markets rallied.  In the U.S., payrolls firm ADP estimated private sector job growth of 190,000 in November, slightly above forecast.  Third quarter Productivity was unchanged at 3.0%.  An increase to 3.2% had been … Continue reading

Posted in Market Update | Comments Off

Rates faced upward pressure Monday as a rally in stocks hurt bonds and mortgage-backed securities.  Late Friday, the Senate passed its version of the GOP tax bill, resulting in a surge in stock prices.  The Dow is currently up nearly … Continue reading

Posted in Market Update | Comments Off

Rates were little changed Friday in quiet trading.  This morning, the Institute for Supply Management manufacturing index fell to 58.2, close to forecast.  Readings above 50.0 indicate expansion in the manufacturing sector.  October Construction Spending jumped 1.4%, beating expectations for … Continue reading

Posted in Market Update | Comments Off

Rates moved higher Thursday as a rally in stocks hurt mortgage-backed securities.  In economic news, the October core PCE price index, one of the Fed’s preferred measures of inflation, rose 0.2% and was 1.4% higher than one year ago.  Personal … Continue reading

Posted in Market Update | Comments Off

Mortgage rates inched lower Tuesday in quiet trading.  Jerome Powell, President Trump’s pick to replace Janet Yellen as Fed Chair, will face a Senate confirmation hearing today.  Powell, who is expected to be confirmed, is considered likely to maintain continuity … Continue reading

Posted in Market Update | Comments Off

Rates inched lower Wednesday as newly released economic data came in close to expectations.  October Durable Goods Orders fell 1.2%, well below the consensus for an increase of 0.5%.  However, excluding the volatile transportation component, orders rose 0.4%, slightly more than … Continue reading

Posted in Market Update | Comments Off

Rates were little changed Friday as mortgage-backed securities recovered from yesterday’s late losses.  In economic news, October Housing Starts rose 14% to an annual rate of 1.29 million units, above the consensus forecast of 1.20 million, to the highest level since … Continue reading

Posted in Market Update | Comments Off