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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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9/16/04
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10:55
am The numbers are beginning to
roll in, Inflation was.01% which
is less than expected an well in
check. This news is a good sign
for all the markets including mortgage
rates. Many analyst believe that
if inflation is held in check the
fed (on the Sept 21st) meeting may
end without an aggressive rate hike.
But it is all in the Fed's hand.
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9/15/04
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10:58
am Prices for oil increased today
as demand remains high. But OPEC
announced it was increasing oil
production by 1milion barrels to
help keep prices in check. Some
major companies are warning of lower
profits. With all this news, Oddly,
the yield on the 10 year T-bill
is up. Which should correlate into
higher mortgage rates today
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9/14/04
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9:44
am Interesting data out today with
no real effect on the markets. Oil
prices increases because of hurricane
concerns on imports. Retail sales
were down .3% mostly from the automobile
declining sales. Finally, the account
deficit rose to an un expected $166.2 billion.
So, there is a lot of data there
for market traders to mull over.
They are combining to keep the market
slow this morning but, surprising,
there is no trend either way in
the markets. The 10 year T-bill
is mildly up in the yield but it
appears it will take some time for
the information to be digested and
for mortgage rate watchers to decide
were rates should go.
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9/13/04
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10:49
am The 30 year T-bill is rather
stable today and the mortgage rates
for today have not moved much since
last week. Although, there is some
concern over the ability to import,
because of the massive hurricane
moving towards the southern states.
If shipping has issues the price
will go up and may push mortgage
rates lower. But the Fed still stands
strong on raising rates this month.
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9/12/04
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10:57
am Market Closed
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9/11/04
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10:03
pm Market Closed
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9/10/04
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9:05
am Producers of products have had
their expenses reduced according
to a recent government survey. This
will help keep inflation in check,
(at least for today.) and the fed
can ease on the path of raising
rates in order to prevent inflation.
Keep in mind that raw material cost
are up 22% the producers have avoided
pushing that expense to the consumer
prices. So currently the numbers
look good. But you have to figure
that eventually, in the near future,
prices will have to rise or profits
will come in less. Mortgage rates
should reduce a little today with
the lower inflation possibility.
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9/9/04
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11:37
am Estimates by economist show that
they believe the economy will expand
at slower pace than previously expected.
This is based on the HIGH cost of
energy. This high cost will work
its way through all industries and
reflect in raising prices. At the
same time, the fed still seems determined
to raise rates, they believe that
raising rates will not effect growth.
So, mixed data we have to wait and
see how mortgage rates change.
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9/8/04
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9:55 am Yesterday did not end
well for those looking to get low
mortgage rates and today is not
beginning much better. Fed chairman
Greenspan will speak in front of
congress today and most likely reiterate
that on his Sept 21 meeting a quarter
point will be added to the fed funds
rate. This has caused the 10 yr
T bill to put massive pressure on
the mortgage rate traders and cause
the yield to go down and rates to
go up.
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9/7/04
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11:39
am Crude oil prices eased today
as supply concerns eases. This is
the crude oil roller coaster . Today
the concern was the hurricane damaging
the pumps in Florida. The port cam
through with little damage and will
begin pumping soon. Stocks rallied
on the oil prices lowering. Counter
acting this data was Freddie Macs
statement that home prices will
rise twice as fast a the rates of
wages. These two numbers added to
the raising interest rates will
(in the short run) lower rates but
over the weeks mortgage rates should
go up.
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