Mortgage rates had little reaction to this morning’s release of the July Producer Price Index showing a 1.2% rise from June, doubling expectations. The more closely watched core rate rose 0.7% from June, also exceeding consensus. Much like last week’s release of the Consumer Price Index, traders shrugged off the report, since oil prices have […]

Rates were little changed Monday in light trading. Stocks were sharply lower, fueled by increased concerns over a possible government bailout of Fannie Mae and Freddie Mac. Traders remain focused on tomorrow’s release of the Producer Price Index for July, a key measure of inflation.

Rates held steady Friday, having shown little movement for the week. July Industrial Production rose 0.2%, higher than expected. Oil prices continued their downward trend, reaching $111 pb, a 24% reduction from their July peak. The dollar strengthened against the euro and is now up 8% from its low last month. Stocks were mixed. The […]

Rates moved slightly higher following this morning’s release of the Consumer Price Index for July, showing a 5.6% annual rate increase, the highest since 1991. Energy prices have dropped significantly over the past few weeks, however, and future readings will reflect this. Stocks rallied, as investors had feared even higher inflation figures. Weekly jobless claims […]

Rates showed little reaction to today’s release of Retail Sales for July. The 0.1% decline was in line with expectations. Traders are nervous ahead of Thursday’s Consumer Price Index report, a key indicator of inflation. Stocks moved lower as oil prices rose over inventory concerns.

Mortgage rates held steady Tuesday as stocks declined. Several key economic reports are due out later in the week beginning with tomorrow’s report on Retail Sales. The dollar continued to strengthen against the euro, helping push oil prices down to about $112 pb, a 23% reduction from its peak last month.

Rates were little changed Monday with no major economic reports being released today. The second half of the week is likely to be a bit more volatile, beginning with Wednesday’s release of Retail Sales for July, the Consumer Price Index on Thursday, followed by Friday’s report on Industrial Production. Stocks were mixed, the dollar strengthened […]

Mortgage rates were little changed Thursday, trailing US Treasury markets for a second day following steep second quarter losses reported by Freddie Mac. Weekly Jobless Claims came in at 455,000, well above consensus, but Pending Home Sales for June rose unexpectedly by 5.3%. The European Central Bank (ECB) left rates unchanged this morning. Stocks were […]

Mortgage rates moved higher Wednesday after Freddie Mac released disappointing second quarter earnings and warned of more trouble ahead. Freddie reported a net quarterly loss of $821 million, three times analysts estimates, and announced plans to raise additional capital. They also doubled reserves for future loan losses to $2.8 billion, citing rising delinquency and foreclosure […]

Mortgage rates were unchanged to slightly higher Tuesday morning ahead of this afternoon’s Fed policy decision regarding short term interest rates. Although expected to hold rates steady, their “bias” is likely to change from neutral toward higher (rates) to combat inflation. There has been some dissent among FOMC members at recent meetings. It is possible […]