Market Commentary | August 2, 2013

Mortgage and Lending with Caliber Home Loans, Inc NMLS# 246871

Market Commentary | August 2, 2013

by Caliber Home Loans, Inc or special contributors on 08/02/13

Weekly Update | August 2, 2013

Mortgage rates worsened early in the week alongside of improving U.S. economic outlook and early-Fed policy tapering sentiment. Rates then rebounded Friday morning alongside of a much lower-than-expected ADP Employment release of 162,000, versus its 185,000 estimate. The Federal Open Market Committee (FOMC) kept interest rates steady and voted 11-1 against tapering its policy, while there were few language changes from their last meeting. While the minutes will be released on August 21st, many continue speculate that the Fed will announce its policy tapering by September.

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