Mortgage update for March 4th 2019

Mortgage rates are starting to feel a little pressure upward after really no movement since the beginning of the year.  This is a key week with a lot of economic news being released.  Last week we received the release of the GDP for 4th quarter that showed growth at 2.6%, which is higher than the expectations of 2.3%.  This means the average GDP for 2018 of 3.1%, the best since 2005.  Also, manufacturing reports show continued expansion leading to the conclusion that there doesn’t seem to be a recession on the horizon for 2019.  These type of good economic indicators typically pressure rates higher, but we also have a lot of money flowing into US treasuries from foreign investors that are keeping us protected somewhat from much higher rates.

What to watch for this week

  1. Friday payroll reports for February released- wage inflation could cause the Fed to consider another rate hike in 2019 putting more pressure on mortgage rates to increase.
  2. China/US trade talks take the main stage- reduction in tariffs will pressure rates higher.


* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.

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