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While the housing market has been suffering greatly, the overall economy has remained remarkably resilient. This week, consumer spending again was much stronger than expected. As a result, mortgage rates rose sharply, reaching the highest levels in over two decades....
The events in the Middle East were the dominant influence for mortgage markets this week, while the highly anticipated inflation data came in close to the expected levels. As a result, mortgage rates ended lower, falling from the highest levels in over two decades. In...
At the highly anticipated meeting on Wednesday, Fed officials confirmed their outlook for short-term rates to remain at elevated levels for quite a while. While this was not much of a surprise, the news caused mortgage rates to climb to their highest levels in...
The major inflation data released this week was heavily influenced by higher energy prices, but it was essentially in line with expectations. Similarly, consumer spending reflected the increase in gas prices and revealed no significant surprises in other areas....
There was little major economic news during the short holiday week. The economic data generally was stronger than expected, and mortgage rates ended the week slightly higher. The most significant economic report released this week from the Institute of Supply...
