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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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9/29/04
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10:10
am The governments numbers are pounding
away at the mortgage rates. The
market, for awhile now, has ignored
the relentless comments from the
fed and the commerce dept. trumpeting
the great economy. Mostly because
the data has not backed it up. But
today the market has given in. The
bond is now adjusting to reflect
the economy beliefs that the fed
has been saying was there. The fed
released "revised" GDP
numbers that show a whole percent
increase in GDP. This pushes the
bonds yield up and in turn the rates.
Expect mortgage rates to move up
fast today.
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9/28/04
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5:59
pm The bond ended the day a little
higher than yesterday, It appears
the gains in the stock market are
mostly led by speculation. This
raise in the markets caused the
bonds yield to rise and push rates
up slightly. The data should have
caused the market to be down today.
Crude Oil prices reached the 50
mark today and major airlines announced
pay cuts. Added to it all is the
unexpected decrease in consumer
confidence. Possibly tomorrow in
the market, the data will be reflected
with a down day in stocks and rates
lower once the market has read and
digested the real bad economic data
of today.
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9/27/04
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11:29
am Oil Oil Oil, it is all about
the oil prices today. The mortgage
rate index's tend to be using the
oil prices as the main indicator
of what will keep inflation in check.
The higher the price the faster
the economy slows the lower risk
of inflation. They tend to be ignoring
the fed chairman's trumpeting the
economy and they believe the high
prices of energy will cause a slow
down. Crude oil is set to hit a
record 50 a barrel. This has caused
the bonds yield to go down after
Friday's advances. Mortgage rates
should stay low today.
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9/26/04
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6:50
pm Markets Closed
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9/25/04
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3:31
pm Markets Closed
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9/24/04
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10:10
pm durable goods sales were up.
And the bond had a increase due
to the end of the week re positioning.
The mortgage rates adjusted upwards.
Also, gov. has agreed to sell off
some reserve oil in order to reduce
the pressure on demand. All in all
the mortgage rates will not sky
rocket, but may go up.
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9/23/04
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9:59
am Jobless claims are in from the
commerce dept. They are up and the
number of people continuing claims
have increased. The data was sent
out with the explanation that
seasonal problems such as hurricanes
have caused this up swing. Similar
to yesterday's actions in the bond
market as a result of the fed raising
rates, the actual market traders
are not following the explanations
on the jobless claims and the
bond yield continues to fall as
the traders believe that the economy
is in a down turn more than is being
trumpeted by the fed and commerce
dept. Both the fed and commerce
dept. are trying to push rates up
but the mortgage rate market traders
are pushing back by reading the
data and ignoring the explanations.
So rates may remain low and go lower
than today.
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9/22/04
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4:18
pm Profit short falls by companies.
Earning reports coming in less than
expected and the financial
earnings outlook not good. But the
fed raised rates yesterday. Then
followed up with the chairman's
belief that the economy is in a
rebound. Well. the bond traders
today decided that fed may not being
seeing the economy the way the rest
of the market watchers and traders
are seeing the economy. So. even
with the rate hike yesterday the
bond traders believe the economy
is starting a new round of slow
downs and the 10 year T-bill's yield
is dropping and dropping fast. Mortgage
rates tomorrow should be lower than
before the fed raised rates yesterday.
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9/21/04
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10:56 am The FED
WILL RAISE RATES TODAY.
The main issue is what will be the
statement about the trend of the
economy. If there is a grand economic
outlook then mortgage rates will
go up. If it is a glooming outlook
mortgage rates will go down. As
been the recent past, The fed will
play the middle role with the "measured
growth" which means , Higher
mortgage rates.
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9/20/04
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11:32
am The Stock Market is having issues
from the earnings reports. Many
large industry giants are reducing
their expected earnings. This is
not a good sign for the economy.
However, a weak economy does mean
that the fed may not have to raise
mortgage rate affecting policy.
This would mean that the fed can
assume that there is no need to
raise rates because the economy
is far from raging advances.
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9/19/04
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3:44
pm Markets (Mortgage Rate Market)
Closed
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9/18/04
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12:45
pm Markets (Mortgage Rate Market)
Closed
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9/17/04
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9:56
am The 10 year T-Bill reduced its
yield yesterday afternoon after
economic data showed inflation has
not rise. Today's mortgage rates
will be affected by the upcoming
consumer confidence report. If confidence
is high mortgage rate traders will
drive the yield up and rates will
rise.
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