Rates and commentary below are as of November 17, 2003. Rates are down about 0.25% across the board since last week, as investors sold equities (because of terrorism worries and end-of-year tax positioning) and bought safer bonds (driving bond prices up and yields down). This has continued into Monday trading. This week’s main economic news
Rates and commentary below are as of November 10, 2003. Rates on 15yr and 30yr fixed loans are up about 0.2% from last Monday, but ARM rates are holding near their lows. No major economic news scheduled for release until this Friday, so the bond market and rates should be relatively calm until then. The
Rates and commentary below are as of November 4, 2003. Rates are up about 0.125% overall from last week. Not bad considering that 3rd quarter GDP grew at its fastest pace in nearly 20 years. This lofty economic growth figure posted last Thursday presumably would have had a more negative affect on the bond market
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.
Rates and commentary below are as of October 20, 2003. The Conference Board’s Index of Leading Economic Indicators was released today (the biggest economic news scheduled this week). Today’s release showed the economy cooled in September as mortgage rates rose and the tax cuts were spent. This follows huge growth months in July and August
Rates and commentary below are as of October 15. Sorry for delay, I was out ill earlier this week. Rates on 30-yr and 15-yr loans are up about 0.25 from last week, but rates on ARMs are holding steady near record lows. Retail sales figures released this morning showed the first decline in five months,
Rates increased by about 20 basis points Friday on news that unemployment held at 6.1% (instead of the predicted increase to 6.2%). This indication that the job market could be stabilizing caused investors to sell bonds in favor of stocks, driving yields up. However, this was more of a trading phenomenon than a fundamental shift.
Rates have dropped again this week, and are down about 0.25% from last week; On a $600k loan, this is about $100 per month in savings. This brings rates close to record lows we saw in the 2nd quarter. This is a good way to start the week, but if consumer confidence employment figures released
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
The rate snapshot below is for reference for the week of September 15, 2003. Rates this week are holding at about 0.25% lower than in recent weeks. On a $600k loan, this is about $100 per month in savings. No rate moves are expected from Tuesday’s Federal Open Market Committee meeting. The next three months