Monday Market Commentary: Rates Near ’07 Lows

by Alex Stenback on November 26, 2007

1126_rates
Graphic via MSNBC
Last Week:
Though the short week was fairly volatile, most conforming mortgage rates remained unchanged, and still hover at or near the low point for 2007.
This Week:
A very full economic calendar this week, with a number of reports that will give us a glimpse of the state of the economy and of inflation.  As for inflation, The GDP chain deflator, and PCE (personal consumption expenditures) index, both key measures of inflation, print on Thursday and Friday, respectively.  On the economic front, GDP, consumer confidence, existing and new home sales, and durable goods orders will give the market a lot to digest.  Any signs of a weakening economy may help move mortgage rates lower – signs of economic strength, especially if they coincide with rising inflation will move rates up.
This Week’s Economic Calendar [Barron's]

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