Archive for May, 2007
Consumer Confidence Report Causes Rates to Increase
29 May 2007Today’s mortgage rates were down after stronger than expected consumer confidence posted.ﾃつ ﾃつ Stocks are up as well, and we should expect an increase of approximately .125 to retail mortgage rates today over Friday.
The CCI (Consumer Confidence Index) showed a reading of 108, stronger than previously expected.ﾃつ This is bad news for mortgage [...]
Existing Home Sales Down, Bonds Down
25 May 2007Today’s bond market is down today after a NAR report showing existing home sales posting an unexpected decline.ﾃつ This comes in contrast to the March new home sales report yesterday which posted an unexpected increase.
This is good news for the bond market and mortgage rates.ﾃつ Rates could drop, if the stock market momentum [...]