Rates held steady Thursday as key economic data came in close to expectations.  This morning, the August Consumer Price Index (CPI) rose 0.4%, above the consensus forecast of 0.3%.  Core CPI, which excludes volatile food and energy components, increased 0.2%, matching forecast, and was 1.7% higher than one year ago.  Weekly Jobless Claims fell to 284,000, […]

Mortgage rates were little changed Wednesday in quiet trading.  In economic news, the August Producer Price Index (PPI) rose 0.2%, below the consensus forecast for an increase of 0.3%, and was 2.4% higher than one year ago.  Core PPI, which excludes volatile food and energy components, rose 0.1% and was 2.0% higher year-over-year.  Results from today’s […]

Rates inched higher Tuesday as a continued rally in stocks hurt mortgage-backed securities.  In economic news, the Job Openings and Labor Turnover Survey, or JOLTS, reported an increase in job openings last month to 6.17 million, beating forecast.  Results from today’s 10-year Treasury auction will be released at 1:00 PM.

Credit reporting agency Equifax announced last Thursday that hackers had gained unauthorized access to files from mid-May through July, potentially compromising personal information including names, addresses, Social Security numbers and dates of birth for about 143 million U.S. consumers, roughly 55% of Americans age 18 or older.  Due to the vital nature of the data […]

Rates faced upward pressure Monday as a rally in stocks hurt mortgage-backed securities.  The damage from Hurricane Irma was not as bad as some had feared, and North Korea did not conduct a missile test which had been expected, so investors shifted funds from bonds to riskier assets, such as stocks.  No key economic data will […]

Rates were little changed Friday in quiet trading.  No key economic data will be released today.

Rates held steady Thursday as mortgage-backed securities recovered from yesterday’s late losses.  This morning, the European Central Bank (ECB) made no changes to its bond buying program.  The ECB raised its growth forecast and lowered its inflation forecast.  The meeting had little impact on financial markets.  In the U.S., weekly Jobless Claims surged to 298,000, […]

Mortgage rates were little changed Wednesday, maintaining their lowest levels of the year.  In economic news, the Trade Deficit fell to $43.7 billion, a bit below forecast.  The Institute for Supply Management services index rose to 55.3, matching expectations.  Readings above 50.0 indicate expansion in the services sector of the economy.  The Fed’s quarterly Beige Book, […]

Rates inched lower Tuesday as tensions with North Korea increased following another missile test over the weekend.  Stocks moved lower, boosting mortgage-backed securities.  In economic news, Factory Orders fell 3.3% in August, a bit below expectations.  No other key data will be released today.

Rates were little changed Friday in volatile trading following the release of key employment data.  The economy added 156,000 jobs in August, short of the consensus forecast of 180,000.  In addition, downward revisions subtracted 21,000 jobs from previous months.  The unemployment rate increased to 4.4%.  Average hourly earnings rose 0.1%, below expectations, and were 2.5% […]