Housing Sector Shines

Raleigh Mortgage Group Uncategorized

Increased expectations for additional government stimulus were modestly negative for mortgage markets this week, while strong housing data had little impact. Rates ended a little higher but remained near record low levels. The spectacular rebound in the housing sector from weakness during the spring due to the partial shutdown of the economy has continued. In September, Existing Home Sales increased …

Retail Sales Surge

Raleigh Mortgage Group Uncategorized

An increase in coronavirus cases around the world was modestly positive for mortgage markets this week, while the major economic data was mixed and had little overall impact. As a result, rates remained near record low levels. Since consumer spending accounts for over two-thirds of all economic activity in the US, the retail sales data is a key indicator of …

Service Sector Improves

Raleigh Mortgage Group Uncategorized

During a light week for economic data, rapidly shifting headlines about additional government stimulus caused some volatility for mortgage markets. The net effect was minor, however, and rates ended the week nearly flat near record low levels. Lawmakers remain divided about additional fiscal stimulus measures, and the outcome of the negotiations will be extremely important to mortgage rates for a …

Unemployment Drops

Raleigh Mortgage Group Uncategorized

This week’s major economic data generally was in line with expectations and had little impact. The news that President Trump tested positive for the coronavirus was modestly positive for mortgage markets and negative for stocks. Mortgage rates ended the week with little change near record low levels. Friday’s highly anticipated monthly labor market report revealed that the solid rebound from …

Spectacular Home Sales

Raleigh Mortgage Group Uncategorized

This past week’s impressive housing data had little impact on mortgage markets, and rates again held steady near record low levels. The spectacular rebound in the housing sector from weakness during the spring due to the shutdown of much of the economy due to the coronavirus has continued. In August, sales of previously owned (existing) homes, which make up about …

Retail Sales Improve

Raleigh Mortgage Group Uncategorized

This week’s economic data and Fed meeting had little impact on mortgage markets, and rates again held steady near record low levels. The biggest economic report released this week revealed that the steady recovery in consumer spending following the enormous declines in March and April due to the pandemic has continued. In August, retail sales rose a solid 0.6% from …

Inflation Climbs

Raleigh Mortgage Group Uncategorized

While the stock market was volatile, it was a quiet week for mortgage markets. The major economic data revealed that inflation was a bit higher than expected, but its impact was minor, and rates again ended the week little changed near record low levels. The reduced economic activity resulting from the partial shutdown of the economy due to the coronavirus …

Unemployment Rate Plunges

Raleigh Mortgage Group Uncategorized

The major economic data released this past week was stronger than expected, but its impact on mortgage markets was minimal. Rates again ended the week little changed near record low levels. Friday’s highly anticipated monthly labor market report revealed that the faster than expected rebound from the unprecedented job losses caused by the partial shutdown of the economy has continued. …

New Home Sales Surge

Raleigh Mortgage Group Uncategorized

It was a volatile week for mortgage rates with stronger than expected housing data, big news from the Fed, and a postponement of the new fee on refinances. The net effect was roughly offsetting, however, and rates ended the week little changed. The swift rebound in housing market activity from the weakness due to the shutdown of much of the …

Housing Sector Shines

Raleigh Mortgage Group Uncategorized

The big economic news this week was much stronger than expected housing market data. While it was a volatile week, mortgage rates ended just slightly lower. Without a doubt, the star of the show this week was the housing market! Across the board, the results were outstanding and far surpassed expectations. In July, existing home sales increased a massive 25% …