Tuesday Market Commentary

by Alex Stenback on September 6, 2005

Mortgage_rate_090105gifhmedium
                                                    Graphic Courtesy of MSNBC
Last Week
Mortgage rates improved slightly last week on bond market friendly data releases and the uncertainty surrounding the long term effects of Katrina.  There is some talk that the Fed may pause their current tightening schedule until the economic impact of Katrina – most notably higher oil prices – is known.
This Week
A mercifully light calendar this week will give the bond markets a chance to sort out the full impact of last weeks data and the after effects of the Katrina.  Please note that a light calendar does not mean we are immune to volatility here – tread carefully if you have not locked.
· This Week’s Economic Calendar [barrons.com]
· Latest Twin Cities Real Estate Market Report [pdf via MAAR]

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