Mortage Rates Unchanged
23 April 2007
Current Mortgage Rate Outlook:ﾃつ Float
ﾃつ Mortgage interest rates have been flat today, there is no relevant economic news and the stock market has also been calm.ﾃつ Rates should be unchanged today.
However, we will see some very important reports this week, and as a result could experience some volatility in rates.
Tomorrow we will see the Consumer Confidence Index (CCI) for April.ﾃつ ﾃつ This report estimates future spending by consumers.ﾃつ ﾃつ The expected reading is 105, down from March’s level of 107.2.ﾃつ If we see a further drop, it will be good news for mortgage rates.ﾃつ An increase could cause rates to rise.
Also, most importantly on Friday we will see the GDP and ECI reports posted.ﾃつ If they show any significant change in our economic conditions, rates will react immediately.
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