Mortgage News

The Markets in a Minute - February 3

For the Week Ending February 3, 2017 The Fed concluded the most recent FOMC meeting and announced there would be no policy rate increases. The next FOMC meeting is scheduled for March 14/15.Economic activity in manufacturing expanded in January, surpassing economists' expectations. Manufacturers grew at the fastest pace in more than 2 years.The Consumer Confidence Index dropped in January after reaching a 15-year high in December. Despite the slight drop, consumers remain confident overall. Construction spending was down slightly overall in December. However, spending on resident...

February 3rd, 2017 | markets-in-a-minute, The Markets in a Minute - February 3

The Markets in a Minute - January 27

For the Week Ending January 27, 2017 Equities are rallying. The Dow Jones got the most press this week when it hit a new high of 20,000. The S&P and the Nasdaq reached new highs as well.The Fed will meet next week, although it's not likely we'll see a policy rate increase right now. The Fed has said it will probably raise rates 3 times this year.However, mortgage rates are influenced by bond market movement and are not controlled directly by the Fed. Current economic growth could pressure mortgage rates higher. After 3 straight months of gains, new home sales were down sl...

January 26th, 2017 | markets-in-a-minute, The Markets in a Minute - January 27

The Markets in a Minute - January 20

For the Week Ending January 20, 2017 Recent comments by Fed Chair Janet Yellen point to multiple policy rate increases in 2017, supported by a strong labor market and increasing inflation. Jobless claims fell to 233,000, the lowest level since November 1973. Claims remained below 300,000, the healthy market threshold, for the 98th straight week.U.S. consumer prices rose in December in the largest year-over-year increase in 2-1/2 years, signaling inflation pressures could be building.  Housing starts jumped 11.3% in December, a sign of a strengthening economy. The housing ma...

January 20th, 2017 The Markets in a Minute - January 20

The Markets in a Minute - January 13

For the Week Ending January 13, 2017 Wholesale inventories rose in November, slightly more than previously reported. The increase was the largest gain in 2 years and supports economic growth.Rising wages and expected tax cuts are expected to boost consumer spending and support economic growth through much of this year.A tighter labor market and anticipated improvements are expected to stoke inflation. Inflation could contribute to rising rates through 2017. Purchase mortgage applications were up 6% for the week as buyers head back to the housing market after the holidays. It also hel...

January 12th, 2017 The Markets in a Minute - January 13