Mortgage rates ended the week little changed from the previous week.
Key influences that affected mortgage rates this week:
- Stronger than expected retail sales - largest monthly increase since January.
- 25 basis point increase in the federal funds rate.
- Federal Reserve forecast for a slightly faster pace of federal funds rate rises in the coming years.
What to look for next week:
- News on tax reform/government funding.
- Housing starts report on Tuesday.
- Existing home sales data on Wednesday.
- Core personal consumption expdenditures (PCE) price index to be announced on Friday.