Mortgage Rates Up On Strong Reports
July 25th, 2008
Bonds reversed course today, sinking as three pieces of economic data came in suggesting the economy is in better shape than thought. First, Durable Goods Orders for June came in much stronger than had been expected, suggesting that the manufacturing sector is recovering. Secondly, University of Michigan’s Index of Consumer Sentiment for June came in stronger than expected, and this increase in consumer confidence is bad for rates. Finally, new home sales for June were stronger than expected.
Sphere: Related ContentRates Increase as FOMC Voices Inflation Concerns
July 17th, 2008
Rates will increase by about .5 to the points today after bonds fell on inflation concerns. The inflation concerns were related to the release yesterday of the FOMC minutes which suggested that the Fed was primarily concerned with inflationary pressure and may as a result increase rates when the convene next.
Sphere: Related Content« Previous Page — Next Page »