Mortgage Blog

The US economy remains ''durable''

April 26th, 2019 3:40 PM by Eric Fang

Good news is typically bad news for Bonds and home loan rates. That has not been the trend of late, and certainly not this past week. 

Durable Goods Orders is a report which shows buying demand for products with a life cycle beyond 4 years -- think cars, washing machines and planes. And that buying demand of long-lasting goods is up at the highest levels since last summer, highlighting that the US economy continues to grow, and consumers and businesses feel confident in investing. 

Adding to the good-news week were continued strong corporate earnings reports, and future guidance from the likes of Amazon, Microsoft and Facebook. 

Finally, the first look at 1st quarter GDP showed the US economy grew at a blistering 3.2% pace -- way above economists' expectations of 1.9%. The US economy is reaccelerating. 

In the face of all the good news, home loan rates held steady and remain near one-year lows. 
Posted in:General
Posted by Eric Fang on April 26th, 2019 3:40 PM



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