The economic data that was released during the week was mostly neutral for mortgage interest rates and took a back seat to the ongoing impact of trade negotiations with China and new trade tension with Mexico. These factors caused steep declines in the stock market this week leading to a significant drop in mortgage interest rates.
Next week the following economic data will be released and events will occur which may impact mortgage interest rates:
- The ISM National Manufacturing Index will be released on Monday;
- The ISM National Services Index will be released on Wednesday;
- The European Central Bank will meet on Thursday; and
- The monthly Employment Report will be released on Friday.