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DATE
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Mortgage
Rates Information
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7/01/04
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8:00
am Yesterday was a definitive .25%
raise in the overnight lending rate.
Now we must wait for the numbers
on the economy to come out. Jobs,
purchasing, consumer goods etc.
The expected news today is a raise
in new jobs by 250k and with that
should place pressure next month
for another rate increase by the
feds. Lets wait and see. Over night
the European markets have adjusted
higher after the raising of rates
by the fed so expect a movement
in the low mortgage rate market.
This market will begin to move at
a faster pace. If you are on the
fence about locking in. Well better
chose NOW!
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6/30/04
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9:22
am This is the day for the federal
chairman and the reserve board.
The meetings begin and most likely
.25% increases in the feds funds
rate. We have stated here the key
is in the language that proceed
the raising of rates. If there are
keywords like MEASURE OR FASTER
PACE etc. there will fast
reaction in the mortgage rate market
We have to hang in and see what
happens. Stay here or the best mortgage
rate information around.
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6/29/04
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9:37
am Well yesterday market information
reflected clear in the mortgage
rate market and probably will effect
it once again today. The inflation
factors are all in place so expect
a constraint and steady increase
in the mortgage rates.
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6/28/04
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8:42
am The up and down of this week
has started early in the morning.
Consumers are spending more more
this month. Once again, playing
into inflation fears. Mortgage rate
yields will be forced upward as
the market predicts a rough ride
ahead with new economic numbers
coming out all week not to mention
the fed.
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6/27/04
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10:12
pm Prepare for a interesting week
in the mortgage rate market. What
is going on is a meeting of the
federal reserve board. They choose
the monetary policies which could
lead to low mortgage rate or changes
for the worst in the market. Best
thing to do expect a .25% raise
in the fed's fund rate and then
hang in for the chairman's comments.
They will be what the market listens
too.
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6/25/04
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8:04
am The first quarter numbers for
the economy are in from the GOV..
It looks like a 4.4% growth rate
with an expansion in the economy.
The question will be when these
numbers are backed up or updated.
Many of the economic data initial
reports that lead the mortgage rate
changes have been changed with revisions.
Let wait and see the rest of the
day for a revision in the numbers
to see how fast the economic recovery
is moving and how it will affect
current mortgage rates.
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6/24/04
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10:31 am -
VERY Unexpected!
Durable goods fell dramatically this month almost 1.6%. After the recent trumpeting in the mortgage market about the vast improvement in the economy, this info causes a 180 degree turn (at least today so far) This also was backed up by a , once again unexpected, massive increase in unemployment claims up 75,000 .
The mortgage rate indices should reflect this dramatic turn around in the economic info. But as usual this info will probably take several days before mortgage rates will adjust
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6/23/04
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10:30 am Stocks are at a holding pattern as investors wait for some type of reaction for mortgage rate changes based on the feds upcoming changes. There may be some reaction later in the day because of a souring Japanese exports and it's yen has strengthen dramatically compared to the slow moving American economy. This should put pressure on the dollar and plays more into the increase in the mortgage rates by the fed. Once again, wait and see...
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