In a week full of major economic news, mortgage rates ended with little change. Wednesday's Fed meeting produced little reaction in mortgage markets. The PPI inflation report was higher than expected, but the more closely watched CPI report was right on target, remaining at low levels. Economic troubles in some developing nations produced a flight to safer assets, which helped mortgage markets late in the wee
Initial claims decreased by 20k to 512k, the lowest level since Jan. 3, and more than forecasts of a decrease of only 5k claims. Initial claims still remain at a fairly high level, suggesting the job market has a long recovery ahead. On the brighter side, some economists still see positive signs in the recent decreases in the four-week-moving average, and today’s 20k decrease in initial claims also may suggest an improvement in labor conditions.
Just a quick note as the day (and the market) [...]
