Archive for September, 2008
Mortgage Rates Improve as Stocks Cliff-Dive
29 September 2008Today’s bond market improved as stocks took a 777 point loss today after the House defeated the proposed Economic “bailout” legislation. Rates should improve by about .25 to the points.
Today’s August Personal Income and Outlays report showed that personal income rose, bad news for bonds, but completely overshadowed by the stock market [...]
Mortgage Rates Shoot Up
17 September 2008Mortgage rates will post a full 100 basis points higher this morning as a result of the FOMC’s decision not to cut rates, a move that surprised many. The financial markets had been hoping for a rate cut Tuesday since the Lehman/Bank of America/AIG crisis emerged over the weekend. Instead, the Fed held strong on [...]