Rates held steady Wednesday with little economic news scheduled for release. Factory Orders grew 1.3% in August, above consensus. Oil prices fell again today, reaching $107 per barrel, 27% below their July peak. Stocks were lower, the dollar higher.

Mortgage rates inched higher as stocks surged on falling oil prices. Crude oil plummeted to around $109 pb following lighter than expected damage from Hurricane Gustav. The ISM factory index showed a slight decline in US manufacturing last month. The Employment Report for August, due out Friday, will be closely watched by traders and may […]

Mortgage rates improved slightly Friday as Personal Income showed a much larger decline than expected, due to the end of the government stimulus checks. The Core PCE price index, the Fed’s preferred inflation indicator, rose to a 2.4% annual rate. The central bank would like to see this reading drop below 2.0%. The Chicago Purchasing […]

Mortgage rates had little reaction Thursday to an upward revision in second quarter Gross Domestic Product to 3.3% from 1.9%. Higher than forecast economic growth was attributed to strong export sales and the government stimulus package. Stocks climbed on the report. First time Jobless Claims dropped for the fourth consecutive week to 425K, in line […]

Mortgage rates were mostly unchanged Wednesday as Durable Goods Orders increased a surprising 1.3% in July, led by strong exports. Oil prices rose on concerns over the threat from tropical storm Gustav. Yesterday’s release of the minutes from last month’s FOMC meeting revealed growing concerns over inflation among board members and a strong likelihood that […]

Mortgage rates improved slightly Tuesday ahead of this afternoon’s release of the minutes from the Fed’s most recent FOMC meeting. Traders will be watching closely for clues on central bank policy in coming months. New Home Sales increased 2.4% in July leading some analyst to conclude we may be nearing the bottom of the real […]

Rates showed slight improvement Monday as capital moved out of equities and into bonds and mortgage-backed securities. Stocks were sharply lower. Existing Home Sales rose 3.1% in July. The remainder of the week is packed with economic reports that may affect interest rates, beginning with Tuesday’s release of the minutes from the last Federal Open […]

Rates moved slightly higher Friday as stocks showed solid gains on lower oil prices and a stronger dollar. Federal Reserve Chairman Ben Bernanke spoke at the annual Fed conference in Jackson Hole, Wyoming this morning, saying a recovery in the dollar and declines in commodity prices should lead inflation to moderate in coming months. However, […]

Mortgage rates moved slightly higher Thursday, giving up gains made late Wednesday. Oil prices surged on increased tension between the US and Russia and a weaker dollar. Leading Indicators showed a 0.7% decline in July, more than double the consensus forecast, heightening concerns by analysts of an economic recession. Weekly Jobless Claims came in below […]

Interest rates remained little changed Wednesday morning with no major economic reports due to be released until next week. Shares of Fannie Mae and Freddie Mac tumbled for the second consecutive day on growing concerns over the likelihood of a federal bailout. The two beleaguered mortgage giants have $223 billion of bonds maturing by September […]