Rates and commentary below are as of October 27, 2003. This is a big economic week, starting today with good news for Realtors about home sales. Existing home sales were up 3.6% in September, setting a new monthly record. The second-to-last Fed meeting of 2003 is tomorrow, and they are expected to leave rates unchanged.
The rate snapshot below is for reference the week of September 22, 2003. Rates this week are about 0.25% lower than last week. This week’s economic calendar is fairly light, so unless Thursday’s Jobless Claims as well as new and existing home sales reports (for August) are significantly off consensus estimates, there shouldn’t be significant
Please see rate snapshot below for reference the week of August 25, 2003. Housing starts and existing home sales are posted record numbers for July. Many economists are saying that the effects of recently rising mortgage rates will dampen housing numbers next month. However, mortgage rates are still very low relative to historical standards. Conforming