Archive for 'Market Summary' Category
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. 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. Rates could drop, if the stock market momentum [...]
Thursday’s Mortgage Rates Increase; New Home Sales Spike
24 May 2007Thursday’s mortgage rates increased after the market moved into negative territory following mixed economic news.
First, the Commerce Department reported in its Durable Goods report that new orders for big-ticket items rose .6% vs. and expected .9%. This is good news for mortgage rates.
However, the New Home Sales report, which typcially has only a minor [...]