There were increasing concerns about a global slow down in economic activity which led to steep decline in equity markets around the world this week. Continuing negotiations between the U.S. and China on a trade deal seemed more positive this week. These two factors largely offset each other and mortgage interest rates ended the week only slightly lower.
Next week the following events will occur and economic data will be released which could impact mortgage interest rates:
- The Existing Home Sales report will come out on Wednesday;
- The minutes of the July 31 Federal Reserve meeting will be released on Wednesday; and
- The New Home Sales report will be released on Friday