Mortgage Rates Down, Bond Market To Close Early Friday
27 August 2007
The bond market opend up on Monday following stock market losses.ﾃつ Rates could improve by approximately .25 point.
The only relevant economic news released today was the July Existing Home Sales data posted by NAR, the National Association of Realtors. ﾃつ ﾃつ It showed little change from last months, but moreover, has usually little impact on mortgage rates.
The conference board will post the Consumer Confidence Index at 10AM tomorrow, which measures consumer confidence, specifically as demostrated by their willingness to spend.
Also tomorrow will come the release of the minutes from the last FOMC meeting.ﾃつ These minutes will be scrutinized and anything that could be read as controversial or devisive could cause rates to move in either direction.
The bond market will close early this week at 2PM on Friday due to the holiday.
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