What's Ahead For Mortgage Rates This Week : February 16, 2010
By Bob Phillips, CDPE, SFR, South Orange Co., CA
(Realty ONE Group)
Mortgage markets worsened last week on general profit-taking in the U.S. bond market, combined with talk of a coordinated rescue effort for Greece and its debt burden. Mortgage-backed bonds sold off, causing conventional and FHA mortgage rates to rise. There wasn't much hard data on which to trade last week, either, so momentum took markets farther than they otherwise might have moved on their own. It marked the first time in 5 weeks that rates rose for rate shoppers. This week, data returns. Expect mortgage market movement. Some of the week's more important releases include: Housing Starts and Building Permits (Wednesday)The release of the last month's FOMC Minutes (Wednesday)Business and consumer inflation figures (Thursday and Friday) Inclement weather may have impacted last month's ...
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