Category: Market Update

Mortgage Market Update 6/21/19

Mortgage rates inched higher Friday after falling to 20 month lows following Wednesday’s Fed meeting.  In economic news, May existing home sales rose 2.5% to an annual rate of 5.34 million units, above the consensus forecast of 5.30 million.  The median existing home price was 5% higher than one year ago.  No other key data […]

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Mortgage Market Update 6/18/19

Mortgage rates moved lower Tuesday in volatile trading as the Federal Open Market Committee of the Federal Reserve began its two-day meeting to discuss monetary policy.  A policy statement will be released tomorrow at 2:00 PM.  In other news, the European Central Bank (ECB) unexpectedly indicated that it may introduce additional economic stimulus measures as early as […]

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Mortgage Market Update 5/15/19

Mortgage rates inched lower Wednesday following the release of weaker than expected retail sales data.  April Retail Sales fell 0.2%, below the consensus forecast for an increase of 0.2%.  Excluding the volatile auto component, Retail Sales rose 0.1%, well short of expectations for an increase of 0.7%.  Separately, the NAHB home builders sentiment index rose […]

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Mortgage Market Update 5/3/19

Mortgage rates moved lower Friday following the release of key employment data for April.  The economy added 263,000 jobs last month, well above the consensus forecast of 190,000.  The unemployment rate fell to 3.6%, the lowest level since 1969.  Average hourly earnings rose 0.2% and were 3.2% higher than one year ago.  Stocks moved higher.  […]

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Mortgage Market Update 5/1/19

Rates inched lower Wednesday ahead of this afternoon’s Fed announcement.  The Federal Open Market Committee of the Federal Reserve will wrap up its periodic two day meeting to discuss monetary policy and release a policy statement at 2:00 PM.  Fed Chairman Jerome Powell will hold a press conference at 2:30.  No change in rates is […]

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Mortgage Market Update 4/5/19

Mortgage rates inched lower Friday following the release of key employment data.  This morning, the Bureau of Labor Statistics reported the economy added 196,000 jobs in March, beating the consensus forecast for an increase of 170,000.  The Bureau also made upward revisions of 14,000 jobs to previous months.  Average hourly earnings, an indicator of wage growth, […]

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Mortgage Market Update 3/20/19

Mortgage rates moved lower Wednesday to their lowest levels in more than a year ahead of today’s Fed announcement.  The Federal Open Market Committee of the Federal Reserve will wrap up a two-day meeting this afternoon and release a policy statement at 2:00 PM.  No rate changes are expected, but investors will be looking for […]

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Mortgage Market Update 3/19/19

Rates held steady Tuesday as the Federal Open Market Committee of the Federal Reserve began its two-day periodic meeting to discuss monetary policy.  No rate changes are expected when the Fed releases a policy statement tomorrow at 2:00 PM.  In economic news, January Factory Orders rose 0.1%, in line with expectations.  No other key data […]

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Mortgage Market Update 1/30/19

Mortgage rates were little changed Wednesday ahead of this afternoon’s Fed announcement.  The Federal Open Market Committee of the Federal Reserve will wrap up its two-day meeting and release a policy statement at 2:00 PM.  No rate changes are expected, but investors will be seeking clues about the pace of future monetary policy tightening.  In economic […]

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Mortgage Market Update 1/15/19

Rates inched lower Tuesday following the release of weaker than expected economic data.  This morning, the December Producer Price Index (PPI) fell 0.2%, below the consensus forecast for a decline of 0.1%.  Core PPI, which excludes volatile food and energy components, decreased 0.1%, well below expectations for an increase of 0.2%, and was 2.7% higher […]

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