Rates Slide on Stock Market Weakness
30 May 2007
Wednesday bond market gave us improved mortgage rates as the stock markets reacted negatively to overseas losses. We should see residential mortgage rates improve today.
In the absence of relevant economic reports due for release today, we look forward to the minutes of the last FOMC meeting due for release shortly. This report could give a better idea about current Fed interest rate policy.
Tomorrow the 1st Quarter GDP will be released, and could also affect market rates as it is a good indicator of the health of the US economy.
Friday we’ll see the jobs report as well as the ISM index. Look forward to potential volatility tomorrow and Friday!
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