The economic news this week was dominated by the speech given by Federal Reserve Chair Powell on Wednesday. As a result of the speech, the outlook for the number of rate increases in 2019 has dropped. This news was favorable for interest rates and mortgage interest rates ended the week lower than last week.
Next week the following events will occur and economic data will be released which could impact mortgage interest rates:
- The ISM National Manufacturing Index will be released on Monday;
- The ISM National Services Index will be released on Wednesday; and
- The Employment Report will be released on Friday.