fed: Mortgage Market/Economic Update for June 4th - June 8th
- 06/05/07 01:22 AM
Good morning, We have a rather quiet week ahead of us, with the release of only a few pieces of economic data for the markets to digest. There are three reports of interest scheduled to be posted, but none are considered to be very important to bonds or mortgage rates. The first of the three comes tomorrow when the Commerce Department will release April's Factory Orders data. This manufacturing sector report is similar to last week's Durable Goods Orders release, but also includes orders for non-durable goods. It can cause some movement in the financial markets if it varies from forecasts … (2 comments)
fed: Brief Mortgage Market Update
- 05/10/07 01:28 AM
Good Morning, Just as expected the Fed held rates steady yesterday and decided against a rate hike or decrease. They did however say that inlfation remains stubbornly persistent and their # 1 enemy. This in turn caused bond traders to initiate a minor sell off while Wall Street enjoyed a nice boost from the Fed-Speak before close. With little to no major economic reports today, tomorrow brings two high impact reports which I touched on in yesterday's blog. Let me tell you, It's not easy being cooped up in my office with another 80 degree day here in Boston! Have a nice day and stay tuned to see what happens tomorrow. Cheers, … (0 comments)
fed: The Fed Meets today, so what's going to happen to interest rates?
- 05/09/07 06:28 AM
Good Afternoon, This week of May 7th - 11th is pretty light in terms of economic reports scheduled for release that could impact rates. For all of you readers wondering what exactly drives interest rates, I will offer a brief summary. Interest Rates are driven by the bond market, which in essence is the buying, selling and trading of mortgage backed securities. A very general rule of thumb for the bond market is that when the stock market struggles, rates generally improve as investors pull money out of their investments on Wall Street (stocks) and invest in bonds (mortgage backed securities). This is because bonds offer a much safer return on their investment, the … (0 comments)
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