Chinese Manufacturing Slows The driving force for mortgage rates this week came from an unexpected source. Chinese manufacturing data fell short of expectations, causing sharp losses in global stock markets. Investors shifted to relatively safer assets, helping mortgage rates end the week lower. On Thursday, China’s PMI manufacturing index dropped to 49.6, below the consensus…
The Markets Predict, forecast, divine, foresee… Each year, pundits, analysts, and authorities from around the world offer investors insight to what the year may hold. While prognosticating brings to mind the words of British Prime Minister Winston Churchill who said, “It is always wise to look ahead, but difficult to look further than you can…
Mortgage rates began the week with downward momentum following last Friday’s big miss on the Employment report. That, combined with low inflation, more than offset this week’s slightly stronger than expected economic growth data, and mortgage rates ended the week a little lower. With the Fed’s recent decision to reduce its bond purchases, investors were…