Rates Flat Despite Productivity Gains

Rates were flat today despite better than expected economic news. Retail rates should be unchanged to slightly higher over yesterday, due to yesterday afternoon weakness in bonds. 1Q Productivity and Costs showed a greater than expected pick up in productivity. Higher levels of productivity help mortgage rates as they allow more production without inflationary pressure. There is no news scheduled for release tomorrow of significant importance to mortgage rates.

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June Employment Data Fails to Shock, Rates Flat

Rates Down in Anticipation of June Employment Report

ISM Results Stronger Than Expected; Yet Bonds Still Rise

Bonds were up today regardless of reported stronger than expected economic news. However rates will not change today due to weakness from Monday afternoon trading.

July 4th Holiday Week Starts With Rates Flat

Monday bonds have been flat, however rates should improve today by about .375 to price due to strength from Friday's trading.

Stock Weakness Persists, Rates Down

Bonds were up again as stock market weakness persisted today. Rates should improve by .125 to price.

Rates Down On Stock Woes

Bonds were up today as stock markets took a beating on fear of continuing problems in the banking sector. Mortgage rates should improve by .25 to price.

Fed Makes No Change to Key Interest Rates

The FOMC finished this afternoon with the announcement from the Fed that there would be no change to key short term interest rates.

Consumer Confidence at Lowest Level Since February 1992

Bonds were up today on weaker than expected economic data. The stock markets are also down, and rates will likely improve by at least .125 to price.

National Rates

Loan Type Today
30 Year Fixed   6.11
15 Year Fixed   5.75
5/1 Adjustable   5.83

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