Monday Market Commentary

by Alex Stenback on February 27, 2006

Mortgage_rate_060223gifhmedium
                                                         Graphic Courtesy MSNBC
Last Week
Rates were virtually unchanged.  We did see some flight-to-quality activity (money moving to bonds as a result of, in this case, instability overseas) which often helps rates, but because this was offset by a spike in oil futures (bad for rates – may cause inflation) due to events in Iraq and Nigeria, we are left with no change.  Kind of like offsetting penalties in the NFL.
This Week
Lots of reports on the calendar this week which will give us a snapshot look at housing, manufacturing, and consumer confidence.  Remember, strong economy = higher rates, so pay particular attention to tuesday’s Gross Domestic Product (GDP) figure.
This Week’s Economic Calendar [barrons.com]

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