economic news mortgage: Mortgage Update
- 04/28/11 06:11 AM
This morning both the latest release of the Initial Jobless Claims report and the preliminary 1st quarter GDP report reflect a weakening recovery, causing a rally in treasuries as investors look for safer assets. The number for first-time filers for unemployment benefits increased by 25,000 to 429,000 during the week ended April 23, the Labor Department said. Economists had expected the number to decline to 390,000. The Commerce Department said U.S. GDP decreased to 1.8% during the first quarter, down from 3.1% in the fourth quarter, as the economy's growth slowed. Yesterday's FOMC rate decision and Bernanke's following press conference were … (0 comments)
economic news mortgage: Mortgage Update
- 04/27/11 05:23 AM
Treasuries are down from yesterday's monthly high ahead of today's FOMC rate announcement; the latest policy statement due at 12:30 pm EST. Economic data has been inconsequential; Durable goods orders for March increased by 2.5%, which exceeds the 1.8% increase that had been widely anticipated. The market instead awaits the Federal Open Market Committee's monetary policy announcement and Chairman Ben Bernanke's first press conference to discuss the statement at 2:15 pm EST. The Q&A session is meant to increase transparency at a time when rising food and energy prices have triggered concerns about the Fed's ability to keep inflation in check. … (1 comments)
This morning both the latest release of the Initial Jobless Claims report and the preliminary 1st quarter GDP report reflect a weakening recovery, causing a rally in treasuries as investors look for safer assets. The number for first-time filers for unemployment benefits increased by 25,000 to 429,000 during the week ended April 23, the Labor Department said. Economists had expected the number to decline to 390,000. The Commerce Department said U.S. GDP decreased to 1.8% during the first quarter, down from 3.1% in the fourth quarter, as the economy's growth slowed. Yesterday's FOMC rate decision and Bernanke's following press conference were … (0 comments)
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