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Mortgage Rates Improve as Stocks Cliff-Dive

29 September 2008

Today’s bond market improved as stocks took a 777 point loss today after the House defeated the proposed Economic “bailout” legislation.     Rates should improve by about .25 to the points.  

 

Today’s August Personal Income and Outlays report showed that personal income rose, bad news for bonds, but completely overshadowed by the stock market slaughter.  
Tomorrow we’ll receive the Consumer Confidence Index for September, and Conference Board Index for September. 
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