Daily Mortgage Interest Rate Observer 06/03/09
We're bouncing between a positive and negative range with rates this morning. Dow is down but the employment numbers we're NOT more terrible than expected.
Expect rates similar to Mondays posting. If I was to point the needle in any direct at this moment, I'd say we are trending for slighter higher rates but that can change quickly.
At 10am we get April Factory Orders (+0.9% vs -0.9% in March) and May Non-Manufacturing ISM (45 vs. 43.7 in April). Also at 10AM Fed Chairman Bernanke will be testifying before the House Budget Committee RE: the Economy and Financial Conditions.
I expect the above reports to create a bias towards higher rates later today.
Comment |
0 Trackbacks
