The economic data that was released this week had very little impact on mortgage interest rates. The most significant development were the plans announced by the European Central Bank in response to the weakening growth forecasts in Europe. The reactions to the announcements were favorable for worldwide bond markets and specifically for mortgage interest rates which ended the week lower than last week.
Next week the following economic data will be released and economic events will occur, any of which could impact mortgage interest rates:
- The Retail Sales report will come out on Monday;
- The Consumer Price Index report will be released on Tuesday;
- The Durable Orders report will be released on Wednesday; and
- There will be Treasury auctions on Tuesday and Wednesday.