UMICH: Consumer Sentiment Shows Weakness
2 March 2007
The University of Michigan revised their Index of Consumer Sentiment for February this morning. They reportat the index remained at 91.3 a drop of 2 points. This means that consumer sentiment was not as strong as thought, and is good news for the bond market and for hopes of lower interest rates.
With no other significant economic news, we can expect that the bond market and mortgage rates will stay flat, unless the stock markets moves significantly.
Looking forward to next week, we have one important event coming next Friday with the Employment report. Until then, if you’re looking to lock in your mortgage, the recommendation is to do it now, as there are no clear factors that would cause rates to decrease in the immediate short term.
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