Mortgage News

The Markets in a Minute - March 17

For the Week Ending March 17, 2017 Although the Fed raised policy rates at this week's meeting, mortgage rates improved when the Fed forecasted gradual future increases, calming markets.The Fed's policy rate change will help tame inflation, which has been on the rise. Inflation can be a factor in increasing future mortgage rates.The economy is expected to continue to grow, as supported by recent data. The labor market is strong and consumer confidence is improving. Builder confidence in the housing market hit a 12-year high in March. Builders are anticipating helpful regulato...

March 16th, 2017 | , markets-in-a-minute, The Markets in a Minute - March 17

The Markets in a Minute - March 10

For the Week Ending March 10, 2017 A Fed policy rate hike next week is now almost 100% certain, after recent comments by Fed officials. The Fed anticipates three rate increases in 2017.The Fed's mandate is to keep strong employment and low inflation. Jobs data this week showed the labor market remains strong, with low unemployment.Inflation is on the rise, both in the U.S. and abroad, as the economy continues to grow. Inflation pressures mortgage rates and could contribute to higher rates. Fannie Mae's Home Purchase Sentiment Index for February had five of the six components ...

March 9th, 2017 | markets-in-a-minute, The Markets in a Minute - March 10

The Markets in a Minute - March 3

For the Week Ending March 3, 2017 The idea of a Fed policy rate hike in March has gained steam, with an almost 80% expectation it will happen. Just last week there was only a 30% chance.Consumer spending was down slightly in January, but manufacturing increased. The labor market remains strong, with jobless claims near a 44-year low.Inflation recorded the biggest monthly increase in 4 years in January, raising the probability of a policy rate hike from the Fed this month. Pending home sales were down slightly in January compared to December, blamed on higher mortgage rates and near r...

March 2nd, 2017 | markets-in-a-minute, The Markets in a Minute - March 3

The Markets in a Minute - February 24

 Although markets were closed on Monday for Presidents' Day, stocks once again hit new highs this week as traders expect the economy to continue improving.Unemployment filings continue to reflect labor market strength. Although up slightly this week, jobless claims have the lowest 4-week average since 1973.The minutes from last month's FOMC meeting show the Fed could be looking to raise policy rates soon. The decision will depend on data for jobs and inflation. Existing home sales surged to a 10-year high in January. Demand remains strong as buyers shrug off increasing prices...

February 23rd, 2017 | markets-in-a-minute, The Markets in a Minute - February 24

The Markets in a Minute - February 17

For the Week Ending February 17, 2017 Consumer prices increased in January by the highest level since February 2013, signaling rising inflation. Inflation could pressure mortgage rates higher.Jobless claims this week came in even lower than expected, signaling strength in the labor market. A strong labor market could encourage the Fed to raise rates.In testimony to Congress, Fed Chair Janet Yellen commented that the Fed would be "unwise" to let the economy heat up too quickly and may raise rates soon. January housing starts were down slightly. However, overall construction ...

February 17th, 2017 | markets-in-a-minute, The Markets in a Minute - February 17

The Markets in a Minute - February 10

For the Week Ending February 10, 2017 Gallup reports its Economic Confidence Index hit a new high in January, reaching its highest monthly average in 9 years. The labor market continues to show strength, with jobless claims hitting a 43-year low this week and a strong showing for non-farm payrolls last week.Despite the strong economy, inflation is still lagging. As long as inflation remains low, there's less pressure for rates to rise. The positive economic sentiment by Americans is trickling over to housing market attitudes. Over 29% of those surveyed said it was a good tim...

February 9th, 2017 | markets-in-a-minute, The Markets in a Minute - February 10

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