During the week of Feb. 13, mortgage rates were flat, but they may rise again soon after news of President Trump and Congress reaching a budget agreement and making progress in China trade talks.
Rates stayed near one-year lows at the start of the week, but began ticking up in the wake of news on the budget deal. Going forward, markets are expected to monitor retail sales and consumer sentiment data, offering new insights into the impact of January's partial government shutdown, according to Zillow director of economic research Aaron Terrazas.
This week was relatively light on market-moving economic data releases, until Wednesday’s inflation announcement. Inflation has been one of the main indicators Fed officials are watching to evaluate the health of the U.S. economy, and Wednesday’s strong release—which showed 2.2 percent annual growth in core prices—pushed up bond yields.
Advertisement
Related Stories
Housing Markets
States Seek Long-Term Solutions to Reform Property Taxes
Rising home prices typically lead to higher property tax assessments, which has been the case in many Mountain West states, prompting lawmakers to grapple with property tax relief
Housing Markets
Metros Where Housing Prices Have Doubled in Less Than 10 Years
Historical data show it's taken less than 10 years for home prices to double in 68 of the country’s 100 largest cities
Housing Policy + Finance
Even With Inflation Running Hot and Elevated Mortgage Rates, Buyer Demand Rises
Mortgage rates will likely stay high for the next few months, but that doesn't seem to be deterring homebuyers