· Mortgage Rates1 – It was a relatively quiet week, with the ‘big’ news coming with Friday’s PCE inflation report. The report came in as expected with both PCE and Core PCE coming in at an annual rate of 2.6%. Still higher that Fed targets, but moving in the...
· Mortgage Rates1 – Another week of mixed data highlighted by the Congressional Budget Office increasing its forecast for the fiscal 2024 budget deficit from $1.6T to almost $2.0T (that is ‘T’ for Trillion). Sprinkle in modestly positive retail sales numbers...
· Mortgage Rates1 – Despite some up and down economic news early in the week, the FOMC (Federal Open Market Committee) came out strong on Wednesday with generally positive news regarding the Fed’s view on current inflation data (supported by improving PPI and...
· Mortgage Rates1 – It’s the tale of two jobs reports; earlier this week the ADP Private Payrolls Report came in much lower than expected, but the widely watched BLS Jobs Report came in hotter than expected this morning. This set up the market with a bit of a...
· Mortgage Rates1 – Memorial Day holiday on Monday left us with a short week. Early in the week we saw rates move against us as global investors failed to gobble up the large amount of US Debt coming to auction. This turned a bit with Q1 GDP readings that...
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