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During a light week for economic news, the biggest event was the European Central Bank (ECB) meeting. The ECB surprised some investors with its aggressive move to tighten monetary policy to fight inflation, which was favorable for mortgage markets. As a result,...
This week, the key CPI inflation report released on Wednesday was a little stronger than expected, while the other major economic data was mixed. As a result, mortgage rates ended the week slightly higher. The Consumer Price Index (CPI) is a closely watched inflation...
This week, the highly anticipated Employment report released on Friday was a little stronger than expected, while the other major economic data was mixed. As a result, mortgage rates ended the week higher. Against a consensus forecast of just 250,000, the economy...
Investor concerns about slower global economic growth continued to increase this week. Both the inflation and the manufacturing data came in below expectations. As a result, mortgage rates declined again. The PCE price index is the inflation indicator favored by the...
With global central banks aggressively tightening monetary policy to fight inflation, this week investors reduced their outlook for economic growth. As a result, mortgage rates declined from the highest levels since 2008 seen last week. In May, sales of existing...
