Mortgage rates feel stuck despite gloomy economic data ⛈️📊🏠

Flash Market Update

The short week was uneventful despite the potential for a Friday crescendo with GDP, Consumer Sentiment, and PCE inflation – the Supreme Court’s decision to strike down the Trump tariffs didn’t add any enthusiasm either.

Prior to Friday, U.S. Pending Homes Sales created a minor stir with the NAR’s Monthly Index hitting the lowest level on record.

Despite GDP and service sector surveys (PMI) missing expectations, the overall gloomy econ data wasn’t enough to change the “Neverending Story” of sideways bond prices.

The good news is that mortgage rates ended the third week of February near multi-year lows.

Thanks for reading.

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