Blog

Mortgage Market Update 3/29/18

Mortgage rates inched lower Thursday as newly released economic data came in close to expectations.  This morning, the February Core PCE price index, the Fed’s preferred measure of inflation, rose 0.2%, matching forecast, and was a tame 1.6% higher than one year ago.  Weekly Jobless Claims fell to 215,000, a bit lower than expected, to […]

Read More

Mortgage Market Update 3/28/18

Mortgage rates were little changed Wednesday following the release of stronger than expected economic data.  This morning, fourth quarter GDP was revised higher, indicating annual growth of 2.9%, up from earlier estimates of 2.5%.  Separately, the National Association of Realtors reported February Pending Home Sales rose 3.1% from January, beating expectations for an increase of […]

Read More

Mortgage Market Update 3/22/18

Rates inched lower Thursday as a sharp decline in stocks boosted mortgage-backed securities.  In economic news, weekly Jobless Claims came in close to expectations.  Increased fears of a trade war with China hurt stocks this morning.  No other key data will be released today.

Read More

Daily Market Update 3/21/18

Mortgage rates moved higher ahead of today’s Fed policy statement.  The statement will be released at 2:00 PM followed by Fed Chair Jerome Powell’s post-meeting press conference at 2:30.  Investors widely expect a 0.25% increase in the Fed Funds Rate and will be looking for clues about the pace of future rate hikes.  This is Mr. Powell’s first […]

Read More

Mortgage Market Update 3/20/18

Rates inched higher Tuesday as the Fed began its two-day Federal Open Market Committee meeting.  It is widely expected that the Fed will raise short-term interest rates by 0.25%, but investors will be closely watching for clues about the timing of future increases.  The Fed will release a policy statement on Wednesday at 2:00 PM.  […]

Read More

Mortgage Market Update 3/16/18

Mortgage rates were little changed Friday as stocks moved higher.  This morning, February Housing Starts fell 7.0% to an annual rate of 1,236,000 units, well below the consensus forecast of 1,285,000.  The decline was entirely due to multi-family units, however, as single-family starts rose 2.9%.  Industrial Production rose 1.1% last month, beating estimates.  Consumer Sentiment […]

Read More

Mortgage Market Update 3/13/18

Rates were little changed Tuesday in quiet trading as newly released inflation data matched expectations.  This morning, the February Consumer Price Index (CPI) rose 0.2 and was 2.2% higher than one year ago.  Core CPI, which excludes volatile food and energy components, also increased 0.2% and was 1.8% higher year-over-year.  The Fed target rate for […]

Read More

Mortgage Market Update 3/9/18

Rates faced upward pressure Friday as newly released employment data showed stronger than expected job growth in February.  This morning, the Labor Department reported net job gains of 313,000 last month, far exceeding expectations for an increase of 205,000.  In addition, upward revisions added 54,000 jobs to prior months.  Construction firms added 61,000 workers, the highest monthly increase […]

Read More

Mortgage Market Update 3/8/18

Mortgage rates were little changed Thursday.  This morning, the European Central Bank adjusted monetary policy by dropping its “easing bias”, which was a pledge to increase its bond purchases if the region’s economy deteriorates.  The move had been expected by investors and caused little market reaction.  In the U.S., weekly Jobless Claims rose to 231,000, […]

Read More

Mortgage Market Update 3/7/18

Mortgage rates held steady Wednesday as stocks moved lower on news that well-respected White House chief economic advisor Gary Cohn has resigned.  His departure may increase market volatility in the near term due to uncertainty over his replacement.  Cohn opposed President Trump’s proposed tariffs, which are viewed by many investors as inflationary.  In other news, […]

Read More
Back to top