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Retail Sales Jump  The economic data released over the past week was generally better than expected. Strength was seen in retail sales, the labor market, and consumer sentiment. As a result, mortgage rates ended the week a little higher, but they remain near the best levels of the year at a 3.625...
Fed Changes Guidance Wednesday's Fed meeting resulted in positive news for mortgage rates. Mixed economic data released over the past week was roughly neutral. Mortgage rates ended the week lower.  As expected, the Fed did not change the federal funds rate. However, the statement contained guidan...
 The big event over the past week was Thursday's European Central Bank meeting. The stimulus measures announced by the ECB made investors more willing to own riskier assets such as stocks, which was negative for safer assets such as bonds. The small amount of U.S. economic data released over the ...
Strong Job Gains A wide range of major U.S. economic data was released over the past week covering the labor market, manufacturing, services, and housing. Overall, the data suggested that U.S. economic growth and inflation were a little stronger than expected. As a result, mortgage rates ended th...
  After holding the federal funds rate near zero for seven years, the Fed announced on Wednesday a widely expected rate hike of 25 basis points. According to the Fed statement, there has been "substantial improvement" in the labor market, and the economy is on a path of "sustainable improvement."...
 Mortgage rates are affected by many different market forces. Often it is economic data and its impact on the outlook for inflation. This week, the biggest influence on mortgage rates came from the drop in the price of oil and its effects on the stock market. Stocks declined, and mortgage rates e...
Retail Sales Fall Short The recent trend toward higher mortgage rates paused this week. A shortfall in the retail sales data and increased expectations for additional stimulus in Europe were positive for mortgage rates, which ended the week slightly lower. After strong readings over the summer, r...
  Comments from Fed officials and a much stronger than expected Employment report were negative for mortgage rates over the past week. As a result, mortgage rates ended the week higher. Many top Fed officials made speeches over the last few days, and they shared a similar message.  As the Fed's L...
4 Steps to Enhance Your CreditWe all know that a high credit score can help streamline life events like buying a house or landing a new job. But do you know how to boost your score? Try these four moves to give it a quick lift.Fix Credit Errors -- Don't wait for a lender to check your credit befo...
These two pictures say it all; Home prices are stable and increasing and interest rates remain at historical lows making this a great time to consider your first home purchase.  The third photo is where you go to finance it!

George DeVine

Mortgage Banker
local_phone(401) 301-0130
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