MB Daily News-Raleigh NC : Mortgage rates were down slightly last week. Market volatility has been increasing with the ongoing war in Ukraine and reactions to central bank actions and comments.
Economic data released last week showed continuing tight labor markets, with strong job growth and a decline in the unemployment rate to 3.6%. Inflation trends are continuing, and there are no signs of improvement to supply chains in many sectors of the economy that could help to ease upward pressure on prices. This week is light on economic data releases, but markets are carefully watching the Federal Reserve and will be reviewing minutes from the March Federal Open Market Committee that publish today.
Investors will be looking for more information on the timing and speed of balance sheet reductions at the Fed, which could impact rates this week.