Stock Market 13,000 level brings mortgage rates up
26 April 2007
Mortgage Market Outlook: Float
Today’s mortgage rates are up as the stock market continued to surge past its historical 13,000 level.
The Fed Beige Book report from yesterday showed modest economic growth and low inflationary pressure.ﾃつ It did not have an impact on markets.
Tomorrow we will seeﾃつ one critically importatﾃつ report:ﾃつ ﾃつ 1st quarter GDP (Gross Domestic Product), an extremely important report to interest rates.ﾃつ It is probably the best indicator of economic growth or contraction, and could have a major impact on interest rates tomorrow.ﾃつ ﾃつ If we see less than the expected annual rate of 1.8% rates could drop.
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