Last Week:
A weak employment report showing only 18,000 jobs created and unemployment at 5% helped mortgage bond prices and their corresponding rates improve to the lowest level in roughly two years. We are continuing to see a choppy donwtrend in mortgage rates, which fits with our premise that as the economy slows, mortgage rates will drift downward throughout 2008.
This Week:
A sparse economic calendar with only second-tier numbers (pending home sales, weekly jobless claims, crude inventories, balance of trade) won’t provide much market-moving influence. Look for rates to move about on technical factors or major swings in stocks – it would not suprise to see rates pull back a little from their low, slightly overbought levels, though they should remain in a general (if choppy) downtrend in the coming weeks.
This Week’s Economic Calendar [Barrons]
Related posts:
- Monday Market Commentary: Mortgage rates continue to fall
- Monday Market Commentary: Rates Remain at 2011 Lows, Beware Uncharted Waters
- Monday Market Commentary: Rates Near ’07 Lows
- Monday Market Commentary: Mortgage Rates Still Teasing 2008 Lows
- Monday Market Commentary Aug 24 2009: Where are mortgage rates headed?
Equal Housing Lender |
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