Mortgage Rates are slightly better this week! Interestingly, Despite a stronger than expected report on current inflation, investors appeared to become less concerned about future inflation this week. Combined with a European Central Bank meeting that was viewed as favorable, mortgage rates are in an improving technically.
Looking ahead, investors will continue watching global Covid case counts and vaccine distribution. Beyond that, the next Fed meeting will take place on Wednesday. No change in the federal funds rate is expected, and investors will be looking for more detailed guidance on the pace of future bond purchases. In addition, Retail Sales will be released on Tuesday. Since consumer spending accounts for over two-thirds of U.S. economic activity, the retail sales data is a key indicator of the strength of the economy. Housing Starts will come out on Wednesday.
SOURCE & AUTHOR |
Keith Murphy Branch Manager – Essex Mortgage NMLS #330827