Monday Tuesday Market Commentary

by Alex Stenback on August 30, 2005

28mortgage_rate_chartgifhmedium
                                                   Graphic Courtesy of MSNBC
Apologies for the late entry this week, we were busy battling the end of the month….
Last Week: Prices Improved
Mortgage bond prices improved ever-so-slightly last week on thin trading, a weak durable goods number, and a well-bid 2 year Treasury auction.  Though it’s not likely you saw any appreciable difference in the rate you were quoted, it is progress in the right direction nonetheless.
This Week: Employment
Friday’s employment report will be the big number to watch this week – a spike in unemployment or weak jobs created numbers could move rates lower a stitch.  Also on the calendar is Consumer Confidence, Fed Minutes, Income and Outlays and the ISM index.  Combine the full calendar with the lingering, still to be determined impact of Katrina, and we have a potentially volatile week ahead of us.
This Week’s Economic Calendar [barrons.com]
Latest Twin Cities Real Estate Market Report [pdf via MAAR]

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