Mortgage rates ended the week nearly unchanged
Key influences that affected mortgage rates last week:
- Large stock market losses during the week.
- First 25 basis point federal fund rate increase of the year.
- Opinion still divided between three or four federal fund rate hikes in 2018.
- New trade tariffs on $50 billion worth of Chinese imports.
- Existing home sales increased in February.
- Improved inventory of homes for sale in February.
- Median existing home price 6% higher than February 2017.
What to look for this week:
- Treasury auctions on Tuesday and Wednesday.
- Pending Home Sales data on Wednesday.
- Core PCE price index stats on Thursday.
- Mortgage markets close early on Thursday and closed on Friday in observance of Good Friday.