Monday Market Commentary: Mortgage Rates Continue to Climb

by Alex Stenback on June 4, 2007

June_4th_mortchart
                                                                      Graphic Courtesy MSNBC
Last Week:
Mortgage rates added another .125% or so across the board as the Fed minutes release underscored their focus on inflation, and a strong jobs report stoked the wage-based inflation fires.  Overall, another ugly week, and rates are stuck in an uptrend.
This Week:
A spartan economic calendar will force mortgage bonds to trade on technical factors.  Mortgage rates may in fact continue to follow the recent trend and worsen further.  The stock market remains exuberant, and may also hurt bonds as money seeks higher returns there.
See this Week’s Economic Calendar After the Jump

June_4th_economcalendar

Click Image for Larger Graphic

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