PPI and Retail Sales Weak, Rates Down

Bonds opened higher today on economic news favorable to mortgage rates. The Dow down over 100 points currently. Rates should improve about .25 to price. June's PPI was released today and fell short of forecast levels in its more important core data (excluding food and energy prices). This is good news for bonds and mortgage rates. Retail Sales for June were also reported showing a less than expected increase, which is also good news for mortgage rates as it shows consumers are being more thrifty than expected, and consumer spending makes up a large portion of the economy.

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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."

National Rates

Loan Type Today
30 Year Fixed   6.05
15 Year Fixed   5.73
5/1 Adjustable   5.78

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