Retail Sales Surge

Raleigh Mortgage Group Uncategorized

With the increased delivery of the vaccine and the distribution of stimulus checks, investors have anticipated that economic growth will be enormous this year. This has significantly raised the outlook for future inflation, which has caused a sharp increase in mortgage rates from the record low levels seen last year. The growth and inflation data released this week was stronger …

Service Sector Shines

Raleigh Mortgage Group Uncategorized

The growth and inflation data released this week was stronger than expected nearly across the board. Despite this, however, mortgage rates ended the week a little lower.  The most significant economic report this week exceeded expectations by a considerable amount. The ISM national services index jumped from 55 to 64, far above the consensus forecast of 59, and the highest …

Impressive Job Gains

Raleigh Mortgage Group Uncategorized

The important labor market and manufacturing data released this week was much stronger than expected. Despite this, however, mortgage rates ended the week with little change.   Friday’s highly anticipated monthly Employment report revealed very impressive results. In March, the economy gained 916,000 jobs, far above the consensus forecast of 625,000, and revisions added 156,000 jobs to the results for prior months. Particular strength was seen in the hospitality and construction sectors.  The unemployment …

Home Sales Stumble

Raleigh Mortgage Group Uncategorized

After reaching the highest levels in months last week, mortgage rates ended this week a little lower. Weaker than expected housing reports and tame inflation data helped support the decline in rates.   Home sales bounced back from the shutdown of much of the economy last spring far more quickly than expected and have remained at very high levels for many …

Volatile Week

Raleigh Mortgage Group Uncategorized

It was another rough week for mortgage markets, as investors attempt to determine the appropriate level of yields for the current economic environment. It looked promising Wednesday afternoon when the Fed meeting revealed no policy changes and rates dropped from their peak. However, the climb resumed the next day, and mortgage rates ended the week higher.  As expected, the Fed …

Tame Inflation Data

Raleigh Mortgage Group Uncategorized

It was a volatile week for mortgage markets. Favorable news about current US inflation data and the European Central Bank was offset by increased concerns about higher future inflation. Mortgage rates ended the week with little change.  The latest figures released this week revealed that current inflation remained at historically low levels. The Consumer Price Index (CPI) is a widely …

Rising Inflation

Raleigh Mortgage Group Uncategorized

Mortgage rates have been on an upward path this year, and the trend continued this week. With the rollout of the Covid vaccine and additional government stimulus on the way, most investors expect to see a surge in economic activity. As a result, mortgage rates ended the week at their highest levels in months.  Bond yields have gone up rapidly …

Impressive Retail Sales

Raleigh Mortgage Group Uncategorized

Extremely strong economic reports were negative for mortgage markets this week. With the rollout of the Covid vaccine gaining steam and additional government stimulus on the way, most investors expect that future data will be even more impressive. As a result, mortgage rates ended the week at their highest levels in months.  Since consumer spending accounts for over two-thirds of …

Inflation Remains Low

Raleigh Mortgage Group Uncategorized

It was a relatively quiet week for mortgage markets. While current inflation levels remain low, investors are divided about its outlook for later in the year. Mortgage rates ended the week nearly unchanged. The reduced economic activity resulting from the pandemic has caused a decline in inflation, which has been one of the factors responsible for record low mortgage rates, …

Mixed Labor Market Data

Raleigh Mortgage Group Uncategorized

It was a relatively quiet week for mortgage markets overall. Friday’s key labor market data caused some volatility, but its lasting impact was minor. Rates ended the week a little higher. The highly anticipated monthly Employment report contained mixed news, but it is clear that the spread of the coronavirus has slowed the pace of labor market improvement in recent …