ISM Reports Strong June Results
The Institute for Supply Management reported a rise in their index for the month of June, which shows that the manufacturing sector of the economy may be stronger than expected. Experts were expecting a decline. Bonds however were up today, despite this news which is not favorable for mortgage rates. Rates should show now change [...]
Rates Flat Monday
Mortgage and Stock Markets were unchanged today, although mortgage rates should improve by about .25 to the points as a result of strengths in bonds from Friday. There was no relevant news released today. It will be a short trading week, with the bond market closing early on Thursday for the Fourth of July Holiday.
Rates Flat [...]
Rates Down Friday
It was another bad day on the stock markets, which helped mortgage rates continue to fall, despite some unfavorable economic news. Rates should improve by .125 to price.
The May Personal Outlays and Income data came in at levels not good for mortgage rates, showing income increasing and inflation slowing.
The University of Michigan’s Index of Consumer [...]
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