Wednesday, August 19, 2009

RateWatch - Waitin' on the World to Change

Markets: Nothing much happening for the last few days. Up a bit, down a bit, with the general trend toward up. Rates still hanging out in the 5.25-5.375% range.

Analysis: It's the end of summer, and nobody is home. There is a lot of data coming out tomorrow, and there will be especial attention paid to existing home sales and initial claims. Mortgage shoppers, watch for that data to be better than expected, and for rates to move higher on very weak volume. Next week most traders will be back at their desks, but the real long haul of the final third of the year won't start until after Labor Day.

Only 126 shopping days left until Christmas. Just FYI.

Chris Jones
City 1st Mortgage Services

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Anonymous Best Home Mortgage Rates said...

I hope market will be in good position before Christmas. With long recession losses, everyone would love to celebrate Christmas gracefully.

2:33 PM  

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