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DATE
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Mortgage
Rates Information
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Back to The Best Mortgage Rate Information
Resource
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9/6/04
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9:45
am Markets Closed (Labor Day)
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9/5/04
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10:56
pm Mortgage rate market closed
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9/4/04
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12:26
pm Mortgage rate market closed
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9/3/04
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9:39
am A rather non overwhelming jobs
number for August came in. About
144,000 new jobs. Analyst expected
a min. of 150,000 but would have
loved to have seen 200,000. The
prior 2 months of jobs were extremely
low. What the mortgage rate traders
are looking at was yesterday's expected
job growth numbers and they placed
major pressure on the bond. Mortgage
rates went straight up. But with
the weak job numbers and a mid quarter
report from major tech companies
showing a lower forecast, Mortgage
rates may move back today from yesterday's
increase.
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9/2/04
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8:14
am Once again the looming issues
with oil prices will likely keep
rates low. The imports from the
Yuko's are appearing to be under
pressure and prices will go up.
Higher prices will stop the mortgage
rate increases expected for September.
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9/1/04
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9:44
am Morning traders are recognizing
something that foreign traders have
been to realize. OIL is expensive
and we do not have enough to our
needs and other country's needs.
This is putting major pressure on
the mortgage rates today. Rates
should react with a minor lowering
today. It may be time to think about
a locking in a fixed rate.
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8/31/04
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9:54
am Consumer confidence fell for
the third straight quarter based
on non governmental surveys. Most
analyst believe this is from the
after effects of the weak job growth
and the sky high oil prices. This
is the danger zone for the economy.
The one strong item keeping the
economy alive has been the consumer
spending. When all other figures
dropped consumer spending held strong.
We have to wait for the "official"
numbers on consumer confidence but
a low rate would surely cause a
dip in mortgage rates.
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8/30/04
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9:14
am Once again, oil demand and supply
worries (which appear to be justified
by this point) are keeping the market
traders concerned. This concern
should help counteract the increase
last month in consumer spending.
Higher consumer spending would let
the Fed justify mortgage rate increases.
But, salaries did not adjust higher.
This is a sign of weak growth. Incomes
must rise to support a recovery.
Without a strong recovery and weak
job growth added to that the weak
oil supply should all help mortgage
rates stay at their recent lows.
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8/29/04
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12:15
pm Markets Closed
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8/28/04
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11:03
am Markets Closed
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8/27/04
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10:24
am The Economy has grown 2.8%. This
growth would usually push mortgage
rate higher today. However, this
was a growth that was less
than expected. Combined with this
data was a lowering in consumer
confidence. Majority of the reason
for this slower pace is the record
high oil prices.
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8/26/04
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9:27
am The unemployment claims are in
and they are up 10,000 from last
months claims. Usually this would
push the mortgage rate market to
lower the rates but many market
analyst are blaming the increase
on hurricane Charley. This
is a seasonal occurrence and often
the markets ignore these swings.
So rates should not adjust on that
news. The other factor in the market
today is the easing of oil prices
as stabilization of international
supply markets occur.
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