Economic indicators

Independent monetary policymakers have resisted President Trump's call to lower financing costs but could find it harder to ignore employment losses.

Consumers expect prices will climb at an annual rate of 3.5% over the next five to 10 years, according to the final February reading from the University of Michigan.

While mortgage employment is lower year-over-year, the mixed bag of data makes it more likely that borrowing rates will remain higher for longer.

The Federal Reserve's preferred measure of underlying inflation remained muted in December and real incomes were soft, which should support further reductions in interest rates this year.

Inflation-adjusted gross domestic product increased an annualized 2.3% in the fourth quarter after rising 3.1% in the prior three-month period, according to the government's initial estimate published Thursday.

A surge in overall employment added to upward pressure on the 10-year Treasury yield, likely making the industry think twice about its cautious payroll growth.

The so-called core personal consumption expenditures price index, which excludes food and energy items, increased 0.1% from October and 2.8% from a year earlier, according to Bureau of Economic Analysis data out Friday.

The so-called core personal consumption expenditures price index, which strips out volatile food and energy items, increased 2.8% from October last year and 0.3% from a month earlier, according to Bureau of Economic Analysis data out Wednesday.

The Conference Board's gauge of confidence rose 2.1 points to 111.7 this month, data released Tuesday showed.