Daily Market Update 8/30/11

Mortgage rates eased slightly Tuesday following the release of weaker than expected economic data.  Consumer Confidence plummeted in August to 44.5, its lowest reading since April 2009, and well below the consensus forecast of 52.0.  Federal Reserve Bank of Chicago President Charles Evans said in an interview this morning that he would “favor more accommodation” by the Fed, citing weak economic growth in the first half of the year.  Minutes from last month’s FOMC meeting of the Fed will be released at 2:00 PM.

Leave a Reply

Your email address will not be published.

Back to top