Archive for May, 2008

Rates Rise On Strong Employment Data

2 May 2008

Mortgage rates increased by at least .375 to price today on an unexpectedly strong Employment report for April.  The Department of Labor reported that the unemployment rate fell last month, as did the number of job losses.  Both numbers were expected to be an increase over March. 
Additionally,  March Factory Orders came in stronger than expected.   [...]

Rates Down Despite Strong Economic Reports

1 May 2008

Rates were down today despite two reports showing strong economic data.  Rates should improve by .375 to price. 
The Institute for Supply Management (ISM) showed an unchanged reading, where a drop was expected.   March’s Personal Income & Outlay’s report showed declining personal income, but not as steep a decline as was expected.  Both should be bad [...]