The economic data that was released this week was stronger than expected for wages, manufacturing and services. This strength leads investors to anticipate future interest rate hikes by the Federal Reserve. As a result of the data released this week, mortgage interest rates ended the week higher than last week.
Next week the following economic data will be released and events will occur:
- The JOLTS report will come out on Wednesday;
- The Consumer Price Index will be released on Thursday; and
- The Retail Sales report will be released on Friday.