Levy Economics Institute to hold a conference Is Financial Regulation Holding Back Finance for the Global Recovery Conference is being held at the National Press Club in Washington, D.C. on April 15-16.
U.S. MBA mortgage market index sank 2.3% U.S. MBA mortgage market index sank 2.3% in data released earlier, along side a 3.1% decline in the purchase index and a 1.8% drop in the refinancing index for the week ended April 10. This followed the Easter break and mortgage rates rose slightly with the 30-year fixed averaging 1 basis point higher at 3.87%, a still historically lean level though up from recent lows. Last week the Fed minutes confirmed the removal of the trigger word "patience", but on balance remained fairly dovish. The Fed continues to be concerned about the housing sector, even as employment continues to improve and wage growth seems to base. For more detail on housing, see our existing home sales, housing starts and new home sales reports.