A quiet week in economic news caused mortgage rates to worsen slightly.
Mortgage rates rose last week nationwide during a week of sparse economic news.
Mortgage bonds worsened last week as Fiscal Cliff talks moved closer to resolution and as the U.S. economy showed continued signs of growth.
This week, there is little on the U.S. economic calendar, save for Friday’s Non-Farm Payrolls report. Wall Street is expecting to see 80,000 net new jobs created in November, and a rise in the national Unemployment Rate to 8.0%.
Mortgage markets worsened last week, taking mortgage rates higher. The Federal Open Market Committee meets this week.
Home purchasing power is up 6.6% since the start of the year.
Mortgage markets improved slightly last week. With a dearth of new U.S. economic data due for release, investors turned their collective attention to the Europe, China, and the Middle East. U.S. mortgage rates fell slightly in the holiday-shortened week.
For the first time in 9 weeks, mortgage rates have made new lows.
Mortgage rates rose slightly in last week’s holiday-shortened week.
After 4 weeks of increases, mortgage rates finally recede nationwide.