Weekly Mortgage Update: November 27th, 2017′
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FIRST TEAM’S WEEKLY MORTGAGE WATCH (NOVEMBER 26TH, 2017) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES:
- Mortgage rates remained mostly flat during the holiday week. However, we did see some signs of more volatility to come.
- The minutes from the last meeting of the Federal Reserve revealed some concern about the length of time that inflation has remained muted. Some members seem to believe that they need to start pushing rates upward, while others are concerned about raising rates.
- The Conference Board’s Leading Economic Indicators jumped upward, which may point to more economic momentum than previously thought. This was the largest increase in the LEI since 2014.
- We end November and start December next week with many important data points. GDP is expected to notch higher for last quarter, and core PCE Prices are predicted to increase. If both of these come to pass, then rates might move upward for the week.
- However, both the ISM Manufacturing Index and Consumer Confidence are expected to slip downward.
- If all of this week’s expectations come in on target, then we are likely to see another week with mortgage rates moving in a tight range.
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