Mortgage rates were little changed Monday despite the release of stronger than expected economic data.  This morning, the Institute for Supply Management manufacturing index rose to 60.8, above the consensus forecast of 58.0.  Separately, August Construction Spending increased 0.5%, beating estimates, however July spending was revised lower.  No other key data will be released today.

Mortgage rates held steady Friday following the release of mixed economic data.  This morning, the August Core PCE price index, one of the Fed’s preferred measures of inflation, rose 0.1%, below the consensus forecast of 0.2%, and was 1.3% higher year-over-year.  Separately, the Chicago Purchasing Managers Index jumped to 65.2, well above expectations.  Readings above […]

Rates were little changed Thursday as newly released economic data came in close to expectations.  This morning, weekly Jobless Claims rose to 272,000, in line with estimates.  Second quarter Gross Domestic Product (GDP) was revised higher to 3.1% annual growth, slightly above forecast.  Results from today’s 7-year Treasury auction will be released at 1:00 PM.

Rates inched higher Wednesday as investors reacted to news that President Trump will release more details on his tax reform proposal later today.  The plan is expected to boost economic growth and expand the deficit, which could raise the outlook for future inflation.  In economic news, August Durable Goods Orders rose 1.7%, close to forecast.  […]

Mortgage rates were little changed Tuesday in quiet trading.  In economic news, Consumer Confidence fell to 119.8, slightly below expectations.  August New Home Sales declined to 560,000 annual units, below the consensus forecast of 580,000.  Fed Chair Janet Yellen will deliver a speech at the National Association of Business Economics annual convention at 12:45 PM.  Results from […]

Rates inched higher Thursday following yesterday’s Fed meeting.  The Federal Reserve confirmed plans to begin reducing its holdings of U.S. Treasuries and mortgage-backed securities in October.  While the Fed made no rate changes, the majority of voting members anticipate raising short-term rates once more this year, followed by three increases next year.  In today’s news, weekly […]

Mortgage rates were little changed ahead of this afternoon’s Fed announcement.  The Federal Open Market Committee of the Federal Reserve will wrap up a two-day meeting at 2:00 PM and release a policy statement, followed by a press conference at 2:30.  No rate changes are expected, but investors will be looking for clues about the […]

Rates held steady Tuesday and the Federal Reserve Open Market Committee began its two-day meeting to discuss monetary policy.  A policy statement will be released tomorrow at 2:00 PM, followed by a press conference by Fed Chair Janet Yellen.  In economic news, August Housing Starts fell by 1.0% to an annual rate of 1.18 million […]

Mortgage rates were little changed Monday in quiet trading.  This morning, the National Association of Home Builders builder sentiment index fell to 64, a bit lower than expected.  Readings above 50 indicate more positive than negative sentiment among home builders.  No other key data will be released today.  The Federal Open Market Committee of the […]

Mortgage rates were little changed Friday despite the release of weaker than expected economic data, the London terror attack, and another missile test by North Korea.  This morning, August Retail Sales fell 0.2%, below the consensus forecast for an increase of 0.1%.  Excluding the volatile auto component, sales rose 0.2%, also below expectations.  August Industrial […]