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Purchase market heating up  

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After a couple of quiet days, this week quickly took a turn for the worse for mortgage rates on Wednesday. Stronger than expected labor market data caused mortgage rates to move higher.
 

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Most of the news over the past week was negative for mortgage rates. Comments from Fed officials and the Trump administration, along with the release of strong economic data, resulted in mortgage rates ending the week higher. 

FICO scores drop, closing rates remain high

The past week was a relatively light one for economic news, but daily volatility remained high. Uncertainty about the future of the European Union (EU) was favorable for U.S. mortgage rates. A week ago, mortgage rates were near the highest level of 2017. This week, mortgage rates recovered some ground and ended a little lower. 

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The best gift you can give this Valentine’s Day. February is American Heart Month