Monday Market Commentary: Rates Dip on Stock Woes

by Alex Stenback on October 22, 2007

22_oct_rate
                                                                  Graphic via MSNBC
Last Week
Despite renewed concerns in the credit markets, mortgage rates charted modest improvement as the stock market struggled.  The DJIA shed roughly 500 pts through the week.
This Week:
New and existing home sales report this week.  Look for mortgage bonds to take their cue from the stock market, whose woes, if continued, may give the Fed enough latitiude for another cut in October.  If stocks do well, rates may rise, if they do poorly, they will likely fall further.
This Week’s Economic Calendar [Barrons]

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