The FOMC meeting concluded today with a statement that there would be no change to short term interest rates, citing mounting inflation concerns, despite a slowing economy.    This was widely anticipated by the markets and as a result there will be no change today’s mortgage rates.  Fed Meeting Ends With Rates Unchanged

Mortgage rates will increase slightly today by about .125 to the points on mixed economic reports.   The Labor Department reproted that in July the unemployment rate was not as high as had been expected. This is good news for mortgage rates.  However, at the same time the number of job losses was lower than had been [...]

Bonds reversed course today, sinking as three pieces of economic data came in suggesting the economy is in better shape than thought.  First, Durable Goods Orders for June came in much stronger than had been expected, suggesting that the manufacturing sector is recovering.  Secondly,  University of Michigan’s Index of Consumer Sentiment for June came in [...]