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Brentwood TN Real Estate - Finance Market Update April 28, 2008
 
 
Brentwood TN Real Estate
 
Mortgage bond prices rose last week pushing mortgage interest rates lower. Oil prices fell the first portion of the week, which helped bonds rally. Unfortunately, some pipeline shutdowns ignited inflation fears Thursday and Friday causing bond prices to fall and rates to rise, erasing a lot of the earlier improvements. Stocks remained volatile with some optimism despite data that showed the economy continued to struggle.
 
For the week, interest rates on government and conventional loans fell by about 3/8 of a discount point.
 
The Fed meeting Wednesday will be the most important event this week. Look for reactions to the data prior to the meeting to be heightened. The post-meeting data releases the later portion of the week may result in slightly diminished reactions but still have the potential to cause mortgage interest rate volatility.
 
Economic Factors
Economic Indicator Release Date Time Consensus Estimate Analysis
 
Consumer Confidence Tuesday, April 29, 2008 62.0 Important. An indication of consumers' willingness to spend. Weakness may lead to lower mortgage rates. 
 
ADP Employment Wednesday, April 30, 2008 Down 55k  Moderately Important. A different survey of employment. Weakness may help rates improve.
 
Q1 Advance GDP Wednesday, April 30, 2008 Up 0.4% Very important. The aggregate measure ... more

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