Mortgage interest rates moved higher this week due to a number of factors. Primarily due to stronger than expected economic data being released and also a reduction in trade tensions (although likely temporary). Additionally, there continue to be mixed messages from the Central banks in the U.S. and Europe regarding interest rate policy. All of these factors were negative for interest rates this week and mortgage interest rates ended the week noticeably higher than last week.
Next week the following economic events will occur and economic data will be released that could impact mortgage interest rates;
- The Housing Starts report will be released on Wednesday;
- The Federal Reserve will meet on Wednesday where a 1/4 point reduction in the discount rate is expected to be announced; and
- The Existing Home Sales report will come out on Friday