Mortgage rates capped off a great week in sour fashion last Friday. After four days of stock selling induced rate rallying, lenders were finally forced to reprice for the worse on Friday. While mortgage rates did rise more than they have on average, the best 30 year conventional fixed loan rate was still seen near the best levels of the year. The week ahead offers and entire menu of mortgage rate influential events including two gauges of consumer spending and sentiment, three Treasury debt auctions, and a full foursome of housing releases. On top of that we will contend with investor sentiment surrounding the ongoing European debt crisis (contagion), hopefully the Federal Reserve will use one it's scheduled speech events as an opportunity to calm the concerns in the market. Today Sales…(read more)
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