Mortgage Interest rates increased this week and ended the week higher than last week. First, stronger than expected economic data particularly in the housing market were a factor in mortgage interest rates rising. The other factors was the passage of the tax reform bill which is expected to stimulate economic growth and also lead to an increase in inflation, both of which are negatives for mortgage interest rates.
Next week the following events will occur and economic data will be released that may impact mortgage interest rates:
- Pending Home Sales and the Consumer Confidence report will come out on Wednesday;
- The Core PCE Price Index, the Durable Orders reports, and the New Home Sales report will come out on Friday; and
- The mortgage markets will close early on Friday and be closed the following Monday in observance of Christmas.