By Jessica Shanahan, Premier Lending LLC adapted from the Shirmeyer Rate Market Report. Mortgage interest rates improved slightly this past week on increased uncertainty regarding the economic outlook and future Fed rate increases.  The Fed is still predicting two rate increases this year while markets see less than a 50 probability that the Fed will raise rates at all.  Economic data was limited.  Of note, the March ISM Services Sector Index, weekly jobless claims, and February Consumer Credit were stronger than expected.  February Factory Orders and Wholesale Inventories were weaker than expected.  The trade deficit in February was larger than expected.  Fed Chair Yellen indicated that there is still some slack in the U.S. labor market although “we are coming close to our assigned congressional goal of maximum employment.”  In Europe, Eurozone unemployment fell to 10.3 as expected, its lowest level since August 2011.  The Producer Price Index in Europe fell 0.7 in February, more than expected. The Dow Jones Industrial Average is currently at 17,603, down almost 200 points on the week.  The crude oil spot price is currently at $ 39.77 per barrel, up over $ 3 per barrel on the week.  The Dollar weakened versus the Euro and Yen on the week. Next week look toward Wednesday’s Retail Sales, Producer Price Index (PPI), and Business Inventories, Thursday’s Consumer Price Index (CPI) and Jobless Claims, and Friday’s Empire State Manufacturing Survey, Industrial Production and Capacity Utilization, and Consumer Sentiment Index as potential market moving events.  Also, the Treasury will auction 3-Year Notes, 10-Year Notes, and 30-Year Bonds.   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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