Rates moved slightly higher Thursday after improving late Wednesday. Freddie Mac reported weekly average mortgage rates at their highest levels in 9 months. Leading Indicators for May rose 0.1%, above expectations. Investors remain focused on rising inflation due to the recent spike in oil prices. The Fed’s Open Market Committee meets next Wednesday, although no […]

Mortgage rates eased for a second consecutive day on expectations the Fed will wait until at least September before raising the target Fed Funds Rate. Growing signs of economic weakness will likely prevent the central bank from taking action sooner. Stocks and oil prices fell, the dollar was higher.

Rates improved Tuesday following reports showing economic weakness in Europe and easing concerns over an eminent rate increase by the Fed. Producer Prices rose at an annual rate of 7.2%, but the more closely watched “core” rate increased 3.0%, in line with expectations. Industrial Production declined slightly. Stocks and the dollar were lower.

Mortgage rates moved higher Monday on a weaker dollar and record high oil prices. Rates have now climbed about 3/4% in the past four weeks as inflation concerns have dominated investor sentiment.

Rates were little changed following Friday’s release of the Consumer Price Index for May. While prices climbed 0.6% for the month (4.2% for the past 12 months), the “core” rate, excluding volatile food and energy prices, increased 0.2% as forecast. Global inflation fears pushed mortgage rates to their highest levels of the year this week. […]

Rates pushed higher Thursday, reaching their highest levels in over 8 months, on stronger than forecast Retail Sales for May. The unexpected resiliency of the US economy is seen as increasing the likelihood of earlier, more aggressive rate hikes by the Fed to curb inflation. Some analysts attributed the reported 1% increase in sales to […]

Rates held steady early Wednesday as mortgage-backed securities partially regained ground lost Tuesday afternoon. Concerns over rising global inflation sent stocks lower. Investors fear central banks around the world will be forced to raise interest rates to fight inflation even though economic growth remains slow. Focus now turns to tomorrow’s report on Retail Sales for […]

Rates continued trending higher Tuesday following last night’s speech by Fed Chairman Ben Bernanke indicating policy makers will “strongly resist” any surge in inflation expectations. Bernanke also stated he believes the risk of substantial economic downturn has diminished in the past month. Mortgage rates have now risen by about 5/8% over the past three weeks […]

Rates moved higher Monday as stocks rebounded somewhat from a huge selloff Friday. Pending Home Sales showed a surprising 6.3% increase in April to their highest level since October. Some analysts are citing the report as evidence the real estate market may finally be bottoming out. Key economic reports this week include Thursday’s release of […]

Mortgage rates moved modestly lower Friday following the Employment Report for May showing a net loss of 49,000 jobs, and a surprising 1/2% jump in the unemployment rate to 5.5%. Rates inched higher for the week on the heals of Fed Chairman Bernanke’s comments reflecting concern over rising inflation. Further rate cuts by the Fed […]