Dovish Statements from Yellen

During a light week for economic data, the biggest influence on mortgage rates was testimony from Janet Yellen. Yellen, the nominee to be the next Fed Chief, revealed strong support for the Fed’s bond buying program. This news helped mortgage rates end the week lower. Janet Yellen testified this week at her confirmation hearing to…

Weekly Market Commentary, By Marc Schliefer, CFP®

The Markets After last week’s surprisingly strong employment report, it’s almost possible to picture Ben Bernanke slapping trail dust from his leg, ducking his head, and saying, “Just doin’ my job.” After all, running the economy is as laden with complications and unexpected events as a cattle drive. Richard Graboyes, an economist who was once…

Job Gains Surge

Investors, highly focused on the economic data, had a lot to consider this week. The Economic Calendar was packed, and nearly all the major reports exceeded expectations. Stronger economic growth is negative for mortgage rates, and rates ended the week higher. A shockingly strong Employment report caused a swift increase in mortgage rates on Friday.…