Mixed Inflation Data

Raleigh Mortgage Group Uncategorized

It was a quiet week with no major surprises. Mortgage rates ended the week slightly lower. The most significant economic data released this week was the inflation data. The Consumer Price Index (CPI), the most closely watched monthly inflation report, looks at the price change for finished goods and services. Friday’s release revealed that inflation has continued to rise in …

No Surprises

Raleigh Mortgage Group Uncategorized

While there was major economic data released this past week and a Fed meeting, there were no significant surprises. Mortgage rates ended the week a little higher. Friday’s key Employment report came in pretty much right on target across the board. Against a consensus forecast of 190,000, the economy gained 157,000 jobs in July. However, upward revisions added 59,000 jobs …

U.S. and EU Take a Step Back

Raleigh Mortgage Group Uncategorized

The main influence on mortgage rates this past week was fresh news about tariffs, which was negative for mortgage rates. The major economic data came in mostly on target, and Thursday’s European Central Bank meeting contained no policy changes and had just a minor impact. As a result, mortgage rates ended a little higher. On Thursday, the Trump administration announced …

Mixed Employment Data

Raleigh Mortgage Group Uncategorized

The main influence on mortgage rates this past week was Friday’s Employment report which was viewed on balance as a little weaker than expected. The Fed minutes and the other data had just a minor impact. As a result, mortgage rates ended lower. Against a consensus forecast of 190,000, the economy gained 213,000 jobs in June. In addition, upward revisions …

How to Get Your Offer Accepted Without Breaking the Bank

Raleigh Mortgage Group Uncategorized

If you’re in the Raleigh area, you’ve probably notice that we’re in a seller’s market. What exactly is a seller’s market? Basically, it means there are more people looking to buy then sell. With houses selling on the market in only a few days, getting an offer accepted is difficult. In a market like this, sellers are usually receiving multiple …

Quiet Week

Raleigh Mortgage Group Uncategorized

There were few surprises in the data released this past week or in the other economic news. It was a quiet week, and mortgage rates ended a little lower. One reason that the Fed has been raising the federal funds rate is that inflation has moved higher in recent months. The Fed’s favored inflation indicator is the core PCE price …

Focus on Central Banks

Raleigh Mortgage Group Uncategorized

The focus was on central banks this past week. While the net impact of the U.S. Fed meeting was minor, the European Central Bank meeting was positive for global bond yields. As a result, mortgage rates ended the week a little lower. As expected, the Fed announced a 25 basis point federal funds rate hike at Wednesday’s meeting. After the …

Record Job Openings

Raleigh Mortgage Group Uncategorized

Following last week’s stronger than expected labor market and manufacturing data, the reports released this week continued to suggest that the economy is growing at a solid pace. Since stronger economic growth raises the outlook for future inflation, mortgage rates ended the week higher. The JOLTS report measures job openings and labor turnover rates, and the Fed closely monitors this …

Italy and North Korea

Raleigh Mortgage Group Uncategorized

Geopolitical events related to Italy and North Korea were the primary influences on mortgage rates this past week. The U.S. economic data mostly came in on target and caused little reaction. Mortgage rates declined from the seven-year highs reached last week. Italy formed a new government early this week, and the political parties in control of the coalition have changed …

Italy and North Korea

Raleigh Mortgage Group Uncategorized

Geopolitical events related to Italy and North Korea were the primary influences on mortgage rates this week. The U.S. economic data mostly came in on target and caused little reaction. Mortgage rates declined from the seven-year highs reached last week. Italy formed a new government early this week, and the political parties in control of the coalition have changed significantly. …