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MORTGAGE MARKET UPDATE FOR THE WEEK ENDED MAY 31, 2019

Investment risk

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:

  1. The ISM National Manufacturing Index will be released on Monday;
  2. The ISM National Services Index will be released on Wednesday;
  3. The European Central Bank will meet on Thursday; and
  4. The monthly Employment Report will be released on Friday.