There continues to be concern about growth in the global economy as well as US economic growth. This along with Fed policy has led to great volatility in the equity markets. On the other hand mortgage interest rates have reacted positively to the increased caution in the markets and ended the week lower than last week.
Next week will be a light week for events and economic data releases, given the Christmas holiday. The following data will be released next week which could impact mortgage interest rates:
- New Home Sales will be released on Thursday;
- Pending Home Sales will be released on Friday; and
- Mortgage markets will be closed on Monday and Tuesday, Christmas Eve and Christmas Day.