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

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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 …

Inflation Remains Low

raleigh_admin Uncategorized

This week’s highly anticipated inflation data was roughly in line with expectations and had little impact. An increase in tensions with North Korea was positive for mortgage rates early in the week. However, stronger than expected manufacturing data had an offsetting effect on Friday. As a result, mortgage rates were little changed, remaining near the best levels of the year. …

Data, Feds and Politics

raleigh_admin Uncategorized

Uncertainty surrounding the Trump administration and dovish Fed minutes were positive for mortgage rates this week. Stronger than expected economic data had the opposite effect. While it was a fairly volatile week, the net result of these influences was that mortgage rates ended the week with little change, remaining near the best levels of the year. After several months of …

Low Inflation

raleigh_admin Uncategorized

Low inflation and rising tensions with North Korea were good for mortgage rates this week, while strong labor market data was negative. The net effect was that mortgage rates ended the week a little lower, near the best levels of the year. Fed officials are hoping for inflation to rise, but the recent data has not cooperated. On Friday, the …

Mixed Data

raleigh_admin Uncategorized

With little fresh news from global central bankers this week, the economic data was the primary influence on mortgage rates. Some reports were positive and some were negative. The net effect was that mortgage rates ended the week slightly lower. The Fed’s target level for inflation is an annual rate of 2.0%. Tuesday’s release of the core PCE price index, …

Fed to Act “Relatively Soon”

raleigh_admin Uncategorized

This past week’s Fed meeting caused some volatility but had almost no net effect on mortgage rates. The economic data caused little reaction. Mortgage rates ended the week very slightly higher. The statement released on Wednesday following the conclusion of the Fed meeting contained little new guidance about future policy. According to the statement, officials expect to begin to scale …