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. The Consumer Confidence Index came in much lower than expected for June, and was the lowest reading since February of 1992. This validates concerns from the consumer sector that confidence about the economy is weak, and it is good news for mortgage rates.

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Mortgage Rates Head Downward

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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.

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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."

National Rates

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

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