Mortgage rates were mixed Wednesday as fixed rates moved modestly higher and adjustable rates improved. Inflationary concerns, driven by higher oil prices and a weaker US Dollar, continue to dominate investor sentiment. Minutes from the April 30 Federal Open Market Committee meeting will be released this afternoon at 2:00 PM. This should provide a more […]

Rates inched lower Tuesday morning as stocks tumbled. The Dow Jones Industrial Average is currently down nearly 200 points on the day. April’s Producer Price Index rose a less than expected 0.2%, but this was largely offset by a greater than expected 0.4% increase in the “Core” PPI. The Core PPI excludes volatile food and […]

Rates were little changed Monday as leading indicators for April rose 0.1% as expected. The biggest economic report of the week will be tomorrow’s Producer Price Index (PPI) data for April. The Existing Home Sales report is due out Friday, a day when the mortgage market will close at noon due to the Memorial Day […]

Mortgage rates eased following Friday’s report on Consumer Confidence, indicating the lowest level since 1980. April Housing Starts rose unexpectedly by 8%. Building Permits, a leading indicator of housing market activity, rose 5%, the first increase in five months. Oil prices reached a new record high of $127 per barrel. Freddie Mac reported average mortgage […]

Mortgage rates were little changed Thursday as Weekly Jobless Claims came in close to expectations and Industrial Production for April declined 0.7%. Crude oil prices continued climbing into record territory. Weakness in the economy would normally result in lower interest rates, but inflationary concerns are preventing any significant downward movement. Many economists are now predicting […]

Rates were little changed Wednesday, regaining ground given up late Tuesday. The April “Core” CPI rose at a 2.3% annual rate, slightly lower than expectations, indicating higher food and energy prices have not been passed through to the prices of other goods thus far. The Fed generally aims to keep Core CPI readings below 2.5%. […]

Rates moved higher Tuesday as Retail Sales for April were generally stronger than expected, although auto sales fell short of forecasts. Investors remain concerned about the underlying rate of inflation caused by a variety of factors, particularly rising oil prices and the weak US Dollar. Tomorrow’s release of the Consumer Price Index for April is […]

Mortgage rates were unchanged to slightly higher Monday morning with no major economic reports due out today. The remainder of the week will be active beginning with tomorrow’s scheduled release of Retail Sales data for April, followed by the Consumer Price Index (CPI) on Wednesday.

Mortgage rates inched lower Friday as stocks tumbled on news of soaring oil prices, which hit a new record high of $126 per barrel. Oil prices have nearly doubled since last summer. The impact of higher oil prices on mortgage markets is yet to be determined. Inflationary pressures have been mounting as a result of […]

Rates moved lower Thursday reflecting market improvement late Wednesday. Weekly jobless claims came in at 365,000, beating expectations. The Bank of England and the European Central Bank both held rates steady as expected, noting renewed inflationary pressures. No other economic data will be released today.