Category: Market Update

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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Mortgage Market Update 1/11/19

Rates inched lower Friday as newly released inflation data matched expectations.  The December Consumer Price Index (CPI) fell 0.1%, in line with forecast.  Core CPI, which excludes volatile food and energy components, rose 0.2% and was 2.2% higher than one year ago.  The Fed’s target rate for inflation is 2.0%.  No other key data will […]

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Mortgage Market Update 1/3/18

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 […]

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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 […]

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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% […]

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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 […]

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