Monday Market Commentary: Mortgage Rates Remain Stable

by Alex Stenback on August 27, 2007

                                                                                           Graphic Courtesy MSNBC
Last Week:
A sparse economic Calendar and the afterglow of the Fed’s easing of the discount rate restored a measure of calm to the markets.  A positive new home sales report showed a modest improvement in sales and reduced supply.  Rates across the board remain unchanged to very slightly better.
This Week:
Existing home sales, Fed minutes, and two key measures of inflation (GDP Chain Deflator, and PCE, or Personal Consumption Expenditures ) head the calendar.  The case for Fed easing, and for lower rates in general, will be bolstered if the data shows moderating inflation.  The credit markets also bear watching – is the worst behind us, or will more bodies surface?  The answer to that question may move the markets, and rates, at will.
This Week’s Economic Calendar [Barrons]

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