Fed Officials Surprise Investors – THE NEWS STAND

Housing data released this last week revealed that the housing market ended 2016 on a positive note. In December, housing starts rose 11% from November, well above the expected levels. For the year, housing starts were 5% higher than in 2015, making it the best year since 2007.

Comments from Fed officials and stronger than expected economic data were negative for mortgage rates this week. Renewed concerns about the United Kingdom’s exit from the European Union offset a little of the increase, but mortgage rates ended the week higher.

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