By Jessica Shanahan, Premier Lending LLC adapted from the Shirmeyer Rate Market Report. Mortgage interest rates increased slightly as economic data was mostly stronger than expected.  Economic data stronger than expected included January Existing Home Sales, January Durable Goods Orders, the second look at Q4 GDP, January Personal Income and Spending, the core Personal Consumption Expenditures Price Index, and the University of Michigan Consumer Sentiment Index.  Existing Home Sales were up 11 year over year in January.  Economic data weaker than expected included the December Case/Shiller Index, February Consumer Confidence, January New Home Sales, weekly jobless claims, and the December FHFA Home Price Index.  Euro Zone manufacturing and services sector data were weaker than expected.  Japan’s manufacturing data was weaker than expected as well.  The Treasury auctioned $ 60 billion of 2 Year Notes and 5 Year Notes which were met with strong demand.  It also auctions $ 28 billion of 7 Year Notes later this morning which should be met with strong demand as well. The Dow Jones Industrial Average is currently at 16,734, up over 300 points on the week.  The crude oil spot price is currently at $ 33.72 per barrel, up almost $ 4 per barrel on the week.  The Dollar strengthened versus both the Euro and Yen on the week. Next week look toward Monday’s Chicago Purchasing Managers Index, Pending Home Sales Index, and Dallas Fed Manufacturing Survey, Tuesday’s ISM Manufacturing Index and Construction Spending, Wednesday’s ADP Employment Report, Thursday’s Jobless Claims, Factory Orders, and ISM Services Sector Index, and Friday’s employment report and International Trade as potential market moving events.  Jessica Shanahan [email protected] Apply online at: 720-833-7964 Office 970-270-2479 Cell 720-438-3993 eFax NMLS License: 1127723 MLO License: 100048262
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