The stock market continued to struggle this week due to ongoing trade tensions between the US and China. With little other economic news this week mortgage interest rates declined due to the volatility in the stock market.
Next week the following economic data will be released and events will occur which could impact mortgage interest rates:
- Pending Home Sales and first Quarter GDP will be released on Thursday;
- The Core PCE Price Index will be released on Friday; and
- The mortgage markets will be closed on Monday in observance of Memorial Day.