Todays rates are very much the same as yesterday..... rising just .125 on the discount point. After the release of the minutes of the latest FOMC meeting it gave investors reason to believe that there would be another cut in rate coming soon. This helped lead yesterdays stock market to a late afternoon rally before close of business.
Todays bond market opened down just a hair. The DOW was also down 82 and the Nasdaq was basically even.
There will be two three reports released this week with two of them being very important. The reports that should cause a stir in the market will be the producer price index and the september retail sales reports. We should also see the release of the U.S. trade deficit which should be 59.5 Billion. The last report should not lead to any substantial movement in either mortgage pricing or the bond market.
Lets all hope that we see a positive move in rate here by weeks end. We could all use a little fire under the mortgage and real estate markets.
Have a great all. ... .. ... .. Until tommorrow
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