February 2023 Mortgage Rates Now Reach November Highs
February 2023 mortgage rates faced high levels of volatility, later reaching November 2022 highs after strong Employment data came out.
February 2023 mortgage rates faced high levels of volatility, later reaching November 2022 highs after strong Employment data came out.
This week’s major economic data revolved heavily around the January 2023 consumer spending report, which came in much stronger than expected.
After 2022 demonstrated recent record highs, the new year kicked off with lower January 2023 mortgage rates.
CPI report has investor’s focus during a light week in economic news. The held no surprises with lower mortgage rates ending the week.
Heading into the December 2022 mortgage markets, investors widely expected the Federal Reserve to increase interest rates by 50 basis points.
While the December 2022 Fed meeting stole the show this week, a wide range of reporting proved favorable for mortgage rates.
While this week showed little major news, the ISM national services index demonstrated unexpected gains in November 2022.
After a long year of rising inflationary pressures, November 2022 markets now highlight change of pace heading into 2023.
Looking back at October 2022 MBS trends, inflation once again dominated headlines as the Federal Reserve and ECB continue to raise rates.
As the inflation data from October came out, the November 2022 CPI report surprisingly fell below its consensus forecast.