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Bond Market Update
News we can use in the real estate and mortgage business. After last week's blood bath in the Bond Market the fallout was felt by sharply rising interest rates. The short term forcast is for the volitility of last weeks market to subside and this week prices and yields to remain level. The effect is little or no change in mortgage rates. However we need to remember that 6.5% is still a very good rate and that it is expected to stay in this area for the near future. Here is som additional Bond Market info:
Bonds: The worst may be over
With no major economic readings issued Monday and few reports slated for release later this week, investors looking for clues about the future direction of interest rates may shift their attention to rising energy prices and their impact on inflation, said Alan Lancz, money manager and editor of Lancz Letter.
"Energy prices have been inching up off the radar chart," said Lancz. "(It) is a big tax on the consumer that could rear its ugly head again."
Last Friday oil prices moved to their highest level in nine months following violence in the Middle East and supply fears from U.S. refineries.
U.S. light crude ... more

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