Mortgage bond prices rose last week pushing mortgage interest rates slightly lower. Rates were helped by some flight to quality buying of US debt instruments tied to Euro debt uncertainty. Italy's credit outlook was downgraded and Greece's debt situation remained in turmoil. New home sales data was stronger than expected while durable goods orders surprised to the downside. Gross domestic product data came in weaker than expected which helped hold rates steady. Mortgage bonds ended the week better by about 1/8 of a discount point.
Productivity Productivity is the rate at which goods or services are produced. It is most commonly defined in terms of labor, which is the contribution of people to the process. Labor costs represent about two thirds of the value of the output produced. The Bureau of Labor Statistics of the US Department of Labor releases the most widely cited productivity statistics quarterly and annually. Increased productivity is often credited for economic growth with little signs of inflation. |
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