By Jessica Shanahan, Premier Lending LLC adapted from the Shirmeyer Rate Market Report. Mortgage interest rates increased slightly again this past week despite economic data that was mostly weaker than expected.  Economic data weaker than expected included the April NAHB Housing Market Index, March Housing Starts, March Building Permits, the April Philadelphia Fed Business Index, March Leading Economic Indicators, and the April PMI Flash Manufacturing Index.  Economic data stronger than expected included March Existing Home Sales and Jobless Claims.  Jobless Claims fell to its lowest level going back to 1973.  The European Central Bank (ECB) left interest rates unchanged as expected and also left bond purchases unchanged.  Eurozone inflation continues to be far below the ECB’s target of 2.000.  Eurozone manufacturing and services sector indices were both weaker than expected in April.  Japan’s manufacturing purchasing manager’s index was also weaker than expected in April. The Dow Jones Industrial Average is currently at 17,954, up slightly on the week.  The crude oil spot price is currently at $ 43.98 per barrel, up over $ 3 per barrel on the week.  The Dollar strengthened versus the Euro and Yen on the week. Next week look toward Monday’s New Home Sales, Tuesday’s Durable Goods Orders, Case-Shiller Home Price Index, and Consumer Confidence Index, Wednesday’s International Trade, Pending Home Sales Index, and FOMC Announcement, Thursday’s first look at Q1 GDP and Jobless Claims, and Friday’s Personal Income and Outlays, Chicago Purchasing Manager’s Index, and Consumer Sentiment Index 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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