By Jessica Shanahan, Premier Lending LLC adapted from the Shirmeyer Rate Market Report. Mortgage interest rates improved slightly this past week as the Fed left the Fed Funds rate unchanged at the conclusion of its FOMC Meeting.  It appears unlikely that the Fed will increase the Fed Funds rate at its July meeting as well.  Markets are now focused on next week’s vote in Britain regarding whether to exit the European Union.  A vote to exit will likely lead to very volatile markets.  Economic data was mixed.  Economic data stronger than expected included May Export and Import Prices, May Retail Sales, the May Producer Price Index (PPI), the June Empire State Manufacturing Index, the May core Consumer Price Index (CPI), the Philadelphia Fed Business Index, May Housing Starts, and May Building Permits.  Economic data weaker than expected included April Business Inventories, May Industrial Production and Capacity Utilization, the May overall Consumer Price Index (CPI), and weekly jobless claims.  The German 10 Year Bund yield traded negative for the first time ever.  Japan’s Central Bank left its monetary policy unchanged. The Dow Jones Industrial Average is currently at 17,674, down almost 200 points on the week.  The crude oil spot price is currently at $ 47.29 per barrel, down almost $ 2 per barrel on the week.  The Dollar weakened versus the Euro and Yen on the week. Next week look toward Wednesday’s Existing Home Sales, Thursday’s Jobless Claims, PMI Manufacturing Index Flash, New Home Sales,  Leading Economic Indicators, and British vote regarding leaving the EU, and Friday’s Durable Goods Orders and Consumer Sentiment Index as potential market moving events. Jessica Shanahan jshanahan@premierlends.com Apply online at: http://premierlends.com/apply-now/ 720-833-7964 Office 970-270-2479 Cell 720-438-3993 eFax NMLS License: 1127723 MLO License: 100048262
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* Article originally posted on RE/MAX Boulder website at http://www.boulderco.com/blog/