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DATE
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Mortgage
Rates Information
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6/08/04
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10:04
am The Fed "is prepared to do what is required
when it comes to stem the tide of
inflation in America. That is it.
This is what the mortgage rate market
needed to here in order to move
rates upward. This should not raise
mortgage rates to high since the
market had really expected there
to be rates adjustments for the
last several months. But in a public
address Greenspan said it straight
and forward that he is ready to
move on the fed funds rate. This
is what the market had been waiting
on.
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6/07/04
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12:16
pm Mortgage rates today look like
a movement up most likely because
the economic data today shows a
growth. This faster than expected
pace has made mortgage rate indices
move to the side that believes a
fed movement must be fast to ward
off inflation.
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6/04/04
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8:25
am Jobless claims will be in at
8:30 for may. The early predictions
are that jobless claims will be
well down. This should mean that
mortgage rate swill probably move
higher. German economy showed its
largest gain in 15 months. It is
a wait and see the numbers for the
mortgage rate market now.
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6/03/04
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6:05pm
Market on the 10 year treasury bond
yield closed down a little today.
There was early morning info a employment
not being as high as expected by
analyst. The mortgage rates have
not moved much but tomorrow more
job info will be in, so once again
we shall see how mortgage rate adjustments
will happen.
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6/02/04
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Update
2:43 "The current backdrop of low inflation and underutilized resources suggests that
the transition to a more neutral policy stance can be undertaken at a pace that
is likely to be measured," and "As I noted in my testimony, the current highly accommodative stance of monetary
policy must be returned to a more neutral setting at some point in order to
foster price stability and maximum sustainable growth," Greenspan 6/ 14 /04
letter to Sen. Paul
Sarbanes. This has been stated by the fed chairman about mortgage rates basic
determining factor the fed's fund
rates. The market immediately reacted
up but has now leveled out but this
could possibly change the mortgage
rates directions. It seems important
but only a wait and see will prevail.
12:00
pm At mid day not much movement
in the markets. It appears that
some major companies have come out
with comparable lower sales to last
months. Also Opec nations are being
urged to produce more oil to help
steady the fast rising costs. All
things have caused the bond to really
not move. The mortgage rate market
has stabilized.
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6/01/04
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4:55
pm Both construction and manufacturing
index's show a rise in orders respectively.
Above the expected movement. This
meant fast movement higher on the
yield for the 10 year t-bill. But
concerns over the social issues
in oil producing countries once
again changes the price of oil.
These two combined added to the
roller coaster like movement of
rates today. The market ended with
a reduction of the price from earlier
highs but still there is concerns
over inflation. Mortgage rates stay
their positions at a little higher
than last week.
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5/28/04
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9:15
am - Once again the roller coaster
of information that affects
mortgage rate changes has speed
up. This morning the news was rather
good for the outlook that the rates
may start to level off lower. The
consumer spending numbers came in
and according to the commerce dept.
were down the most in the last six
months. Consumers are holding on
to their cash and not making as
many big purchases as before. This
is good for inflation it helps to
keep it in check. More evidence
that the fed may not raise the expected
.25 point at the next fed meeting.
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