FOMC Minutes Good News For Rates

Bonds were up on stock market losses today. Rates should be unchanged today due to weakness yesterday. The Fed Minutes released yesterday gave good news for mortgage rates. The Fed expressed concern about the economic growth and the high likelihood of recession. As a result, money is moving from stocks into the bond market and rates are improving. There was no significant economic news released today.

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Mortgage Rates Head Downward

Market proves Fannie, Freddie can continue to competitively finance debt. Sends Fannie, Freddie stock up and the US Dollar is ticking up.

Market Watches Freddie Debt Sale

All mortgage and investor market eyes are on Freddie Mac's debt sale today.

30 Year Mortgage Rate Lowest in 6 Weeks

The 30-year fixed mortgage rate continues to decline slightly everyday. Currently, it has reached its lowest level in 6 weeks and is lower than the same time last year.

Mortgage Rates Continue Fall

Mortgage rates continue to fall slightly, but don't expected it to be the long-term trend.

FOMC Minutes

The recently released FOMC Minutes reflect a general consensus that inflation is the primary Fed concern.

Existing Home Sales Up

The National Association of Realtors report that existing home sales climbed in July, exceeding expectations.

Bernanke Speaks Today

A full agenda of challenges greets the Federal Reserve governors at there annual Jackson Hole, Wyoming symposium.

Bernanke:Inflation Uncertain

Bernanke assures market the Fed will "act as necessary."

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National Rates

Loan Type Today
30 Year Fixed   6.05
15 Year Fixed   5.72
5/1 Adjustable   5.78

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