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Weekly MGM Mortgage News Digest

Mortgage rates ended last week at the lowest levels in over a year.

Key influences that affected mortgage rates last week:
- Increased trade tensions between the U.S. and China.
- April new home sales highest since October 2007.
- Existing homes unexpectedly 4% lower than a year ago.
- Little effect as a result of the latest Federal Reserve meeting minutes.

What to look for this week:
- Pending Home Sales and the second estimate of first quarter GDP on Thursday.
- Core PCE Price Index on Friday.
- Further news on US/China trade negotiations.

Source: MBSQuoteline.com