Mortgage Commentary 10/22/07 pt. 3

By
Mortgage and Lending with EverGreen Mortgage and Financial

At 8:30 AM ET Thursday, the Commerce Department will post Durable Goods Orders for September. This report gives us a measurement of manufacturing sector strength by tracking orders at U.S. factories for big-ticket items. Analysts are currently calling for an increase in new orders of approximately 1.5%. If we see a larger than expected rise in orders, mortgage rates will probably rise as bond pr ices fall. A weaker than expected reading should be good news for the bond market and mortgage rates, but this data can be quite volatile from month to month and is difficult to forecast.

 -mortgage xsites by a la mode

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