Mortgage interest rates moved higher late in the week even though there appeared to not be a catalyst for the move higher. Generally the overall market is not favorable to mortgage interest rates with a tightening monetary policy by the Federal Reserve, accelerating economic growth and the fear that inflation will become a more significant factor.
Next week the following event will take place and economic data will be released:
- The Existing Home Sales report will be released on Monday;
- The New Home Sales report will be released on Tuesday;
- The Durable Orders report will be released and the European Central Bank will meet, both on Thursday; and
- First quarter GDP will be released on Friday.
