Bonds Up on Stock Market Losses
1 November 2007
The bond opened strong today after the stock market sank on weak economic news. However, due to weakness in bonds yesterday, we may not see significant improvement in today’s mortgage rates.
September’s Personal Income and Outlays report met forecast expectations today, but the spending portion was weaker than expected, a good sign for mortgage rates.
The Institute for Supply Management (ISM) posted lower than expected numbers, showing weakness in the manufacturing sector as well.
Looking forward to tomorrow we’ll get one of the most significant monthly reports, the Employment report. Forecasts are calling for no change, but weakness in jobs could help move mortgage rates down.
Sphere: Related Content
No comments yet