Consumer spending continues to rise nationwide, fueled by jobs growth and a rosier outlook for the U.S. economy. Unfortunately for mortgage rate shoppers, it may also lead to higher mortgage rates later this week.
Mortgage markets improved last week, pushing mortgage rates lower for the second straight week.
Mortgage bonds suffered through another tough week last week as rising optimism that Eurozone leaders will “rescue” Greece plus stronger-than-expected economic data in the U.S. led bonds lower for the second straight week.
The American Consumer is alive and well, it seems. Retail Sales are up 14 months in a row.
Mortgage rates are dropping this morning on weaker-than-expected Retail Sales data from December. Lower rates means more bang for your home-buying buck.
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