Brexit Vote Nears

Raleigh Mortgage Group Uncategorized

Investors were mostly focused on international events this past week, but there was little fresh news on the trade negotiations with China or the British exit from the European Union. The major economic data was mixed and had little impact. As a result, mortgage rates ended the week nearly unchanged.  After a lack of success for over three years, another …

Potential Trade Deal

Raleigh Mortgage Group Uncategorized

Increased optimism about a trade deal was negative for mortgage rates this past week. The economic data and the news from the Fed had little impact, and mortgage rates ended the week higher.  The trade talks between the U.S. and China resumed on Thursday, and comments from officials have suggested that the two sides are close to reaching a limited …

Economy Slows

Raleigh Mortgage Group Uncategorized

The major economic data released this week was mostly weaker than expected, which reduced the outlook for future inflation. This was positive for mortgage rates, and they ended the week lower. As expected, Friday’s key monthly Employment report was consistent with a slower pace of job creation from the very strong levels seen over the last couple of years. Against …

Markets Shrug off Impeachment Talks

Raleigh Mortgage Group Uncategorized

An impeachment inquiry of President Trump caught investors by surprise this week, but it had little lasting effect on mortgage rates. The economic data also had just a minor impact, and mortgage rates ended the week nearly unchanged. House Democrats announced an impeachment inquiry of President Trump on Tuesday. The immediate reaction by investors to the resulting uncertainty was a …

Fed Eases

Raleigh Mortgage Group Uncategorized

Wednesday’s Fed meeting overshadowed the other economic news last week, but it provided no surprises and had little net effect. Stronger than expected housing data also had just a minor impact, and mortgage rates ended the week a little lower.  The Fed cut the federal funds rate by 25 basis points, as expected, and its statement contained few changes from …

Mortgage Rates Reverse Trend

Raleigh Mortgage Group Uncategorized

After a large decline in 2019 to the lowest levels in several years, mortgage rates turned higher this week for a variety of reasons. Stronger than expected economic data, reduced trade tensions, and a mixed message from European Central Bank (ECB) officials all were negative for rates. While the manufacturing sector has taken a hit from increased tariffs and other …

Mixed Data

Raleigh Mortgage Group Uncategorized

There was little change in mortgage rates last week, as investors looked ahead to major central bank meetings later in the month. The economic data released this week contained mixed results, and its net effect was small. A small miss in job gains in Friday’s key Employment report was offset by wage gains which modestly surpassed expectations. Against a consensus forecast …

Focus on Fed and Trade

Raleigh Mortgage Group Uncategorized

This week, investors were focused on a highly anticipated speech from Fed Chair Powell and the trade negotiations between the U.S. and China. These events did little to alter the outlook for investors, however, and the reaction was minor. The economic data released this week also had little impact, and mortgage rates ended nearly unchanged.  Speaking from the Jackson Hole …

Focus on Trade

Raleigh Mortgage Group Uncategorized

Trade negotiations with China completely dominated the other economic news this past week. Mortgage rates dropped to the lowest levels in about three years early in the week, but later reversed direction. After very large swings, rates ended just a little lower.  Last Thursday, President Trump announced that the U.S. will impose additional tariffs of 10% on $300 billion of …

Jobs, Fed, Trade

Raleigh Mortgage Group Uncategorized

Despite key labor market data and a highly anticipated Fed meeting, it was unexpected news about the trade negotiations which had the greatest influence on mortgage rates this week. Increased trade tensions are positive for rates, and they ended at the lowest levels in years. Thursday, President Trump announced that the U.S. will impose additional tariffs of 10% on $300 …