What's Ahead For Mortgage Rates This Week : December 13, 2010
By Kevin Lanham, Chicagoland FHA Expert
(Pacor Mortgage Corp)
Mortgage markets worsened last week as the U.S. economy showed additional signs of strength; and global demand for mortgage bonds slipped. Conforming mortgage rates rose in Illinois and around the country for the fifth straight week. It's a streak that's been marked by volatile pricing that's rendered rate shopping difficult. Last week, lenders published as many as 5 rate sheets per day where, by comparison, over the past 12 months, lenders have averaged closer to 2 rate sheets per day. This week, with a bevy of data set for release and a Federal Open Market Committee meeting, expect volatility to remain high. Wall Street remains undecided on the future of the U.S. economy and there will be plenty on information on which to trade: Tuesday : Producer Price Index, Retail Sales Wednesday :...
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