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 one year ago.  Consumer Sentiment declined to 97.5, a bit below forecast.  Financial markets will be closed on Thursday in observance of Thanksgiving holiday.  Mortgage Network’s office will be closed on Thursday and Friday, but originators can be reached by email or cell phone.  Interest rates on new applications can be locked on Friday.  Have a safe and happy Thanksgiving!

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