Political Headlines

raleigh_admin Uncategorized

Political headlines were the main influence on mortgage rates this week and caused a great deal of volatility. Stronger than expected economic data also was a factor. The positive and negative news was offsetting, however, and mortgage rates ended the week with little change. On Friday, it was reported that former National Security Advisor Michael Flynn would plead guilty to …

Housing Starts Rebound

raleigh_admin Uncategorized

For the second straight week, there was little reaction to the economic news. Neither key data on retail sales and inflation nor the passage of the House tax reform bill had much effect. Mortgage rates finished the week a little lower. It was clear from Friday’s report on housing starts that home building activity over the last couple of months …

Tax Plan in Focus

raleigh_admin Uncategorized

As expected, market moving news was scarce this week. It was a very light week for economic data. The primary source of volatility was Thursday’s release of additional details about the Senate tax plan, but this had just a minor net effect. Mortgage rates finished the week a little higher. On Thursday, the Senate released more information about its plans …

Jobs Bounce Back

raleigh_admin Uncategorized

With a Fed meeting, the selection of the next Fed Chair, details about tax reform, and an Employment report, this week had the potential to be extremely volatile. Other than disappointing wage growth, however, there were no significant surprises in any of these areas. Mortgage rates finished the week a little lower. As expected, U.S. jobs bounced back in October …

ECB Announces Taper

raleigh_admin Uncategorized

The most highly anticipated event of the week, the European Central Bank meeting, contained no surprises and caused little reaction. Reports about President Trump’s favored pick for the next U.S. Fed Chair caused some volatility during the week but had only a small net effect. The key GDP report also was not much of a market mover. In the end, …

Core Inflation Steady

raleigh_admin Uncategorized

The two big economic reports this week were released on Friday. Investors placed more weight on tame inflation data than on strong retail sales figures, causing mortgage rates to improve. Wednesday’s minutes from the September 20 Fed meeting contained little new information and the reaction was small. As a result, mortgage rates ended the week a little lower. In September, …

Hurricanes Affect Data

raleigh_admin Uncategorized

Over the past week, the major economic data and comments from an important Fed official were viewed as negative for mortgage rates. This was partially offset by Friday’s report of possible plans for a long-range missile test by North Korea. As a result, mortgage rates ended the week slightly higher. Much of the data in Friday’s key Employment report was …

Fed Meeting and North Korea

raleigh_admin Uncategorized

Wednesday’s Fed meeting was viewed as mildly negative for mortgage rates. Threats from North Korea on Friday were slightly positive. As a result, mortgage rates ended the week with little change. For investors, the most notable information from the Fed meeting was that a rapid pace of raising the federal funds rate received support from more Fed officials than expected. …

Hurricane Effects

raleigh_admin Uncategorized

Early in the week, good news regarding North Korea impacted mortgage rates. The economic data caused little reaction. Mortgage rates ended the week higher, up from the best levels of the year. In recent weeks, investors have reacted to news about North Korea in the expected fashion. Each time North Korea has conducted a missile test, investors have shifted to …

Geopolitical Events

raleigh_admin Uncategorized

An increase in tensions with North Korea was positive for mortgage rates early last week. Political headlines then caused some volatility later in the week, but the net impact was small. At Thursday’s meeting, the European Central Bank (ECB) essentially postponed a discussion about tapering its bond buying program until its next meeting, so there was little reaction. The net …