GDP increase causes rates to tick up
29 March 2007
Current Mortgage Outlook:ﾃつ Float
The bond market opened down today after the Commerce Department reported stronger than expected news.ﾃつ ﾃつ 4th Quarter Gross Domestic Product rose at a 2.5% annual rate, beating estimates.ﾃつ This indicates that economic activity was stronger than expected, and is bad news for interest rates.
Due out tomorrow is Febrary’s Personal Income and & Outlays report which measures consumer spending habits, and the University of Michigan’s consumer sentiment index with measures consumer confidence, consumer’s willingness to spend. ﾃつ Strong confidence and consumer spending reports could cause rates to rise.
Sphere: Related Content
No comments yet