Monday Market Commentary

by Alex Stenback on May 23, 2005

Last Week: Rates Down, Slightly
Mortgage bond prices up, rates down last week as traders responded favorably to the core CPI (consumer price index) figure released, which showed no inflation. Most mortgages improved in price (not rate) by about 1/8 of a discount point.
This Week: GDP
A full week of data releases – GDP on Thursday heads the list.  Also watch Fed minutes, durable goods orders, new home sales, personal income, outlays, and consumer sentiment data. Generally speaking, good news for the economy, such as a strong GDP figure, will be bad news for rates.
· This Week’s Economic Calendar [briefing.com]
· Latest Twin Cities Real Estate Market Activity [Mpls Realtors Assoc.]

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