Mexican Trade Deals

Raleigh Mortgage Group Uncategorized

News of a trade deal with Mexico and a wide range of major economic data caused some volatility this week. The net effect of all the news was minor, however, and mortgage rates ended just slightly higher.  Since consumer spending accounts for over two-thirds of all economic activity in the U.S., the retail sales data is a closely watched indicator …

Retail Sales Fall Short

Raleigh Mortgage Group Uncategorized

Weaker than expected economic data was modestly positive for mortgage rates this past week. Headlines about the trade negotiations between the U.S. and China caused some volatility but had little net effect.  The latest figures released this past week on retail sales for April were a good deal weaker than expected with a small decline from March. Excluding the volatile …

Focus on Trade Talks

Raleigh Mortgage Group Uncategorized

The two main influences on mortgage rates this week, a lack of progress in the trade talks and weak inflation data, both were modestly positive for mortgage rates. As a result, rates ended a little lower. Last week, senior administration officials suggested that a trade deal between the U.S. and China could be close, so investors were caught off guard …

Fed, Jobs and Wages

Raleigh Mortgage Group Uncategorized

This past week was packed with major economic news highlighted by Wednesday’s Fed meeting and Friday’s Employment report. The result was a lot of volatility, but the various influences were offsetting, and mortgage rates ended the week nearly unchanged. As expected, the Fed made no change to the federal funds rate. The statement released after the meeting noted “solid” gains …

Inflation Falls

Raleigh Mortgage Group Uncategorized

Most investors expect moderate U.S. economic growth this year, some degree of weakness in other regions, and continued low levels of inflation. This week’s news did little to alter their outlook, and mortgage rates ended slightly higher. Wednesday’s release of the Consumer Price Index (CPI), a widely followed monthly inflation report that looks at the price change for U.S. goods …

Brexit Uncertainty Remains

Raleigh Mortgage Group Uncategorized

Despite a series of Brexit votes in the UK this week, little progress was made, and the uncertainty was modestly favorable for mortgage rates. Weaker than expected inflation data also was positive, and rates ended the week lower. During an otherwise routine week, investors were drawn to a series of events unfolding in the UK which could have a major …

Favorable ECB Meeting

Raleigh Mortgage Group Uncategorized

A dovish message from the European Central Bank was favorable for mortgage rates this week, while the major U.S. economic data had little net impact, and rates ended the week lower. In recent weeks, there have been substantial downgrades to the growth forecast for Europe from a wide range of sources. With this in mind heading into Thursday’s European Central …

Retail Sales Dive

Raleigh Mortgage Group Uncategorized

Weaker than expected retail sales data was offset by progress on a government funding agreement this week, and mortgage rates ended nearly unchanged. Consumer spending accounts for about 70% of all economic activity in the U.S., so the retail sales data is a key indicator of growth. The report for the important holiday shopping period was delayed by the government …

Fed and Labor Market

Raleigh Mortgage Group Uncategorized

Major economic events made this a volatile week. Wednesday’s Fed meeting was strongly positive for mortgage rates, while Friday’s Employment report was modestly negative. The net result was a decline in rates for the week. As expected, the Fed held the federal funds rate steady, but the tone of its statement was more dovish (in favor of looser monetary policy) …

Home Sales Slide

Raleigh Mortgage Group Uncategorized

With some major economic data unavailable due to the government shutdown, and ahead of several major economic events in the near future, there was little market moving news this week, and mortgage rates ended nearly unchanged. One economic report which was released this week revealed that housing market activity tapered off near the end of 2018. Sales of existing homes …