Mortgage Bonds were helped this morning, after a rough open, by news that the Unemployment Rate increased to 5.50%, up from 5% last month. As you know, bad news in employment usually fuels good news for mortgages.
Speaking of fuel, oil prices continue to spark inflation fears, which are always a key negative indicator for mortgages. This coupled with statements made by the European Central Bank of potential rate increases, will surely put pressure on the dollar, making foreign goods and services more expensive in the U.S. and also contributing to inflation.
I will continue to keep close tabs on inflation indicators, and as things change I will continue to keep Brentwood TN Homes and Real Estate readers informed.
*Information Courtesy Tonya Esquibel, WR Starkey Mortgage Brentwood/Franklin, TN*
Vanessa Stalets
615-957-6333
Brentwood TN Homes
RE/MAX Elite
615-661-4400
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