The first week of any month is typically a very active week, from an economic data perspective, and January 3rd to January 7th 2010 was no exception. Mortgage pricing continued its recent volatility last week, as conflicting employment data exerted their forces on Mortgage-Backed Security prices.
Follow this link:
Employment Data Roil Mortgage Rate Markets
- Jobs Grow, Unemployment Flat, Fed Acts in a Busy Week
Last week brought more market-affecting news than any in recent weeks. On top of a long-anticipated meeting of the Federal Reserve Open Markets Committee, the week also contained any month’s most significant economic report, the Employment Situation, or Non-Farms Payrolls report. Let’s take a look at the effect these reports have had on mortgage rates .. - Sparse Data, even Fewer Traders Define Week
In a week in which it appeared that half of Wall Street had run off to the Hamptons, economic data showing the economy might or might not be as well off as it was 2-3 months ago caused some wild swings in mortgage pricing. Mortgage pricing is close to its all-time peak right now, meaning.. - Employment Situation Improves; Mortgage Pricing Turns
After a week that saw a few comments from Federal Reserve Chair Bernanke move mortgage pricing by 1/2 point in a single day, many mortgage originators and borrowers hoped for a quieter week. This was something of a tall order on a week in which so much employment data was scheduled to be reported. Instead,.. - Fed Meets, Cites Continued Economic Weakness, Suggesting Rates May Stay Low Until 2012
Mortgage and Treasury markets got a lot to think about this past week, as, in addition to the Federal Reserve Open Market Committee Meeting Tuesday, there was also substantial data from housing markets, manufacturers, and unemployment offices, as well. .. - Economic Recovery Slowing, When Will Jobs Growth Start?
At more recent Fed meetings, the consensus has grown darker, and even the more hawkish members of the committee, those who had been most adamant about increasing interest rates to stave off inflation, have softened their stances. Market consensus currently suggests a belief that the FOMC will not raise the Fed funds rate until sometime..