Strong Consumer Spending Offsets Inflation Driving Mortgage Rates Down

2021-10-15T22:39:17+00:00 October 15th, 2021|Categories: MortgageTime|Tags: , , , , , , , |

The past week saw strong consumer spending. This data offset weak inflation figures. As a result of the reporting, mortgage rates ended slightly lower.

Mortgage Rates Unbelievably Fluctuate Right After Fed Meeting

2021-09-27T18:12:05+00:00 September 24th, 2021|Categories: MortgageTime|Tags: , , , , , , , , , , , |

This week, mortgage rates fluctuate unbelievably in the wake of Wednesday's Fed meeting. This fluctuation included their largest movement in sometime.

Impressive Employment Gains & Manufacturing Sector

2021-04-05T23:10:03+00:00 April 5th, 2021|Categories: MortgageTime|Tags: , , , , , , |

In this past week’s labor market reporting, the economy realized impressive employment gains and manufacturing sector strength. As a result, both exceeded expectations. In spite of this positivity, mortgage rates ended the week with little change. Impressive Employment Gains Analysts finally learned the latest on Employment in the report released Friday, April 2nd, 2021. To the surprise of many, the data displayed impressive employment gains. Overall, the United States economy gained 916,000 jobs. This result is far above the consensus forecast of 625,000. In addition, the prior month showed revised results to the addition of 156,000 jobs. In particular, the hospitality and construction sectors exhibited strength. This is fantastic news given that both the hospitality and construction industries suffered at the onset of the coronavirus pandemic. Impressive Employment Gains Lead to Unemployment Rate Decline Because of the impressive employment gains, the unemployment rate saw a decline. Thus, the unemployment rate dropped from 6.2% to 6.0%. This result matched expectations. On the other hand, the economy expressed a decline in average hourly earnings. Generally, economists consider average hourly earnings to be an indicator of wage growth. The average hourly earnings fell slightly from February, below the consensus for a modest increase. [...]

Load More Posts