gains-offset-losses-as-rates-stay-unchanged

By:: Paul King - MortgageLoan.com

Durable Goods Orders rose only .1% this morning as reported by the Commerce Department. This was much lower than expectation and indicates that the manufacturing sector may be struggling. It is good news for lower mortgage rates. Also in today, the Conference Board Consumer Confidence Index for December showed a higher reading than forecasted. This is bad news for bonds but did not have as much of an impact as the negative news announced by the Commerce Department. Tomorrow we'll get November New Home Sales. It is not typically a very important report to rates, but will be widely watched due to the media focus on the slumping housing market. It is expected to post a decline.

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