Mixed messages cause slight dip in bonds
30 March 2007
Mortgage Market Outlook: Float
The bond market dropped slightly on stronger than expected Income & Outlays reports. February’s Personal Income and Outlays reports show spending rose .6%, higher than the expected .3% increase. This indicates that individual willingness and ability to spend was higher than expected and is bad news for mortgage rates.
Contrary to this report, University of Michigan said their Index of Consumer Sentiment stood at 88.4, less than forecasted, and indicating that consumers were wary about their financial condition. This is good news for mortgage rates.
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