Tuesday Market Commentary: Mortgage Rates on the Rise

by Alex Stenback on May 29, 2007

Last Week:
As we noted, rates moved up again on a combination of technical factors and the fact that money flowed from bonds to stocks throughout the week.
This Week:
The Fed Minutes (Wed) and GDP numbers (Thurs) will hold the markets attention early on, but we expect Friday’s PCE (personal consumption expenditure) index – the Fed’s favorite yardstick for inflation – and employment report to be the numbers with the most market moving potential.  Risks continue reside on the upside for mortgage rates this week, though an inflation friendly PCE number could help rates recover some lost ground.
This Week’s Economic Calendar [barron's]

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