By Jessica Shanahan, Premier Lending LLC adapted from the Shirmeyer Rate Market Report. Mortgage interest rates were flat on the week as economic data was mostly stronger than expected.  Economic data stronger than expected included the NFIB Small Business Optimism Index, March JOLTS Job Openings, April Export Prices, April Retail Sales, March Business Inventories, and the University of Michigan Consumer Sentiment Index.  Retail Sales increased 1.3, the largest gain since March of 2015.  Economic data weaker than expected included March Wholesale Inventories, Jobless Claims, April Import Prices, and the April Producer Price Index (PPI).  PPI was up just 0.2 in April and was unchanged year over year.  The Treasury auctioned $ 62 billion of 3 Year Notes, 10 Year Notes, and 30 Year Bonds which were met overall with strong demand.  At this point it’s unclear whether the Fed will increase the Fed Funds rate at their June FOMC Meeting.  In Europe, Eurozone Q1 GDP was revised from +0.6 to +0.5. The Dow Jones Industrial Average is currently at 17,725, down slightly on the week.  The crude oil spot price is currently at $ 46.08 per barrel, up over $ 1 per barrel on the week.  The Dollar strengthened versus the Yen and Euro on the week. Next week look toward Monday’s Empire State Manufacturing Survey and Housing Market Index, Tuesday’s Consumer Price Index (CPI), Housing Starts, and Industrial Production, Wednesday’s FOMC Minutes, Thursday’s Jobless Claims and Philadelphia Fed Business Outlook Survey, and Friday’s Existing Home Sales 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
RE/MAX of Boulder Real Estate Blog

* Article originally posted on RE/MAX Boulder website at http://www.boulderco.com/blog/