Rates held steady Wednesday as newly released economic data came in close to forecast. This morning, November Construction Spending increased 0.8%, slightly above expectations. The Institute for Supply Management manufacturing index rose to 59.7. A reading of 58.0 had been expected. Readings above 50.0 indicate expansion in the manufacturing sector of the economy. Detailed minutes […]
Mortgage Market Update 1/2/18
Rates were little changed Tuesday. This morning, mortgage-backed securities gave back most of Friday’s late gains as stocks rallied. No key economic data will be released today.
Mortgage Market Update 12/28/17
Rates were little changed Thursday in quiet trading. This morning, the Chicago Purchasing Managers Index jumped to 67.6, well above the consensus forecast of 62.5, to the highest level since March 2011. Readings above 50.0 indicate expansion in manufacturing in the Midwest region. Weekly Jobless Claims were unchanged at 245,000, slightly above expectations. Results from […]
Mortgage Market Update 12/22/17
Mortgage rates held steady Friday in quiet trading. This morning, the November core PCE price index, one of the Fed’s preferred measures of inflation, rose 0.1%, matching forecast, and was a tame 1.4% higher year-over-year. November Durable Goods Orders rose 1.3%, short of expectations, however October figures were revised higher. New Home Sales jumped 17.5% […]
Mortgage Market Update 12/20/17
Mortgage rates inched higher Wednesday as the GOP tax plan cleared the Senate and appeared likely to pass the House. The tax cut bill is viewed by investors as likely to fuel economic growth and increase the federal deficit, pushing interest rates higher over time. In economic news, the National Association of Realtors reported November […]
The New Made Old: Antiquing Wood
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Intro to Hand Tools
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Use Gun Blue to Instantly Blacken Hardware
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Cutting Boards: The Best Finish
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