The economic data for the US Housing market that was released this week was stronger than expected. However, government inflation measures remain low,which partially accounts for the reason mortgage interest rates have remained lower than expected throughout 2017. Even with the positive economic news, mortgage interest rates ended the week lower than last week.
Next week the following events will occur and economic data will be released which could impact mortgage interest rates:
- The ISM Manufacturing Index will be released on Tuesday;
- The minutes from the December 13 Federal Reserve Meeting will be released on Wednesday;
- The ISM National Services Index will be released on Thursday;
- The employment report will be released on Friday; and
- The mortgage markets will close early on Friday and be closed on Monday in observance of New Years.