Favorable conditions helped Austin mortgage rates move a little lower last week. The inflation data released during the week showed that inflation continued to remain at very low levels. In addition, demand for longer-term Treasury securities was strong.
Uncertainty about an expected new Fed stimulus program created a lot of movement in Austin mortgage rates during the week. Fed officials offered few details about the program, though. In the end, despite the volatility, the result was just a small decline in Austin mortgage rates for the week.
The economic data released during the week continued to show low inflation and modest economic growth. As a result of no real surprises, Austin mortgage rates ended the week with little change.
After falling for several weeks, stronger than expected economic data caused Austin mortgage rates to turn a little higher late this week. Upside surprises in important labor market, housing, and manufacturing reports were negative for the Austin mortgage market and positive for stocks.
Global economic news influenced United States mortgage markets this week. While the domestic data released during the week was mixed, an improved economic outlook in many other countries was unfavorable for bond markets. As a result, Austin mortgage rates ended the week a little higher.
