Rates and commentary below are for the week of November 24, 2003. Last week was the lowest rate week since all-time record lows in June. This could change by the end of the Thanksgiving holiday. Despite being a shortened market week, it is heavy on economic releases. Revised 3rd quarter GDP, Consumer Confidence Index, October’s
Consumer Confidence
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 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