Rates were little changed Thursday as the news contained few surprises. The economy lost 62,000 jobs in June, close to expectations. The Unemployment Rate remained at 5.5%. The European Central Bank (ECB) raised interest rates by 1/4% while indicating they believe this will be the only rate hike in the near term. Oil prices topped […]

Rates were unchanged Wednesday morning after moving higher late Tuesday. No major economic reports are due out today. Tomorrow’s session may be volatile, with the release of June’s Employment Report, the announcement of interest rate policy by the Fed’s European counterpart, the ECB, and an early market closing due to the Independence Day Holiday.

Mortgage rates were mostly unchanged Tuesday ahead of a potentially big day Thursday. In addition to the release of the Employment Report, a key measures of economic activity, the European Central Bank (ECB) is expected to boost rates by 1/4% Thursday. If they follow through as hinted by ECB President Jean-Claude Trichet, the Federal Reserve […]

Rates were little changed Monday after improving late Friday. The Chicago Purchasing Managers Index came in slightly above forecast, although the reading of 49.6 indicates contraction in U.S. manufacturing. All eyes now turn to Thursday’s release of the Employment Report for June. The market will be closed Friday for the July 4th Holiday.

Rates were mostly unchanged Friday, having improved by about .125% for the week. The Fed’s preferred measure of inflation, the core PCE (Personal Consumption Expenditures) report increased 0.1% for May, less than forecast. Consumer Spending rose 0.8% for the month, driven mostly by the distribution of economic stimulus checks. Oil prices hit a new record, […]

Mortgage rates dipped slightly following yesterday’s decision by the central bank to hold rates steady. Oil prices jumped and the dollar tumbled on the news. The Fed recognized inflation “uncertainty” remains high, but said the “Committee expects inflation to moderate later this year and next year.” In other economic news, Existing Home Sales rose 2% […]

Mortgage rates moved slightly higher Wednesday as traders await news from the central bank’s Federal Open Market Committee meeting. Durable Goods Orders for May were unchanged from April, matching expectations. New Home Sales declined. No rate change is likely to result from today’s Fed policy meeting, however the accompanying statement will be closely watched by […]

Rates were mostly unchanged Tuesday ahead of tomorrow’s monetary policy announcement by the Fed. Consumer Confidence came in below expectations but the market showed little reaction to the report. Wednesday will be a potentially volatile day for mortgage rates as Durable Goods Orders and New Home Sales figures will be released in the morning, followed […]

Rates showed little movement Monday ahead of this Wednesday’s meeting of the Federal Reserve Open Market Committee. Traders are likely to remain on the sidelines with no major economic reports due out today. Stocks remained near unchanged levels, the dollar was higher against the euro.

Mortgage rates remained little changed Friday, having improved slightly for the week. Traders scaled back expectations of aggressive rate hikes by the Fed in coming months amid signs of a deepening economic slowdown. Oil prices surged on reports of an Israeli military exercise rehearsing potential bombing attacks on nuclear facilities in Iran. Stocks and the […]