Mortgage Commentary 10/25/07

By
Mortgage and Lending with EverGreen Mortgage and Financial

The National Association of Realtors reported this morning that home resales fell over 8% last month. This was the largest monthly decline on record and indicates that the housing sector is still rapidly weakening. This basically is good news because soft housing numbers are thought to be a drag on overall economic activity. It generally does not influence bond trading, but due to the size of the drop, today's news has helped boost bond prices.

-mortgage xsites by a la mode 

Comments (1)

Robert Monk
100% Realty, Inc. - Santa Rosa Beach, FL
Florida Real Estate
Interesting read, Elliott.  Where do you think this news will take the mortgage interest rates?
Oct 25, 2007 02:27 AM