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MORTGAGE MARKET UPDATE FOR THE WEEK ENDED AUGUST 10, 2018

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The most significant economic data that was released during the week was the Consumer Price Index which is an indication of inflation in the economy.  The report showed that inflation continues to rise and remains a factor in how soon and how much mortgage interest will continue to rise as we move toward the end of 2018.  Mortgage interest rates ended the week slightly higher than last week.

Next week the following events will occur and economic date will be released that may impact mortgage interest rates:

  1. The Housing Starts report will come out on Tuesday; and
  2. The Retail Sales report and the Industrial Production report will both be released on Wednesday.