As expected, the latest European Central Bank announcement came out this week. After months, they finally announced the expected policy change in its bond purchase program.
Key labor market data revealed mixed results, including dampened job gains missing the mark. However, a better unemployment rate counterbalanced those job gains.
Investors focus on targeted MBS buying as Fed nears goals. However, Fed Chair Powell did not provide an updated timeline for policy changes. As a result, mortgage rates ended the week slightly higher.
While significant economic news came out this week, retail sales dropped. In spite of this, the travel and entertainment industries saw a major a boom.
As inflation moderates, investors focus on new consumer price index (CPI) findings. During a light week, they looked towards the CPI inflation report for guidance.
The monthly employment report brought stronger than anticipated data as the U.S. achieved breakthrough job gains and strong ISM data.
This week, GDP fell short for a roughly neutral takeaway while inflation reached a new milestone. Overall, analysts saw an abundance of news.
Despite seeing home sales regain ascension (after four declining months this year), this week didn't reveal significant economic news.
Investors focused on surging inflation this week. Recently inflation data exceeded expectations.
The service sector witnesses fantastic expansion while mortgage rates go down. Weekly economic news came out favorable for mortgage markets.
