Cari Anderson's East Bay Mortgage Update for July 26th 2010
Economic News: While we have a busy week ahead for economic reports we just have the New Home Sales numbers for today. There was a rebound from the very soft report for May and the June figures came in at the high range of consensus with an annualized rate of 330,000 units. While the numbers are still soft it was nice to see a rebound from the May numbers. This week the US Treasury will be auctioning $104 Billion of notes on Tuesday, Wednesday and Thursday. The results of these auctions could have an impact on interest rates.
Mortgage Markets: The yield on the 10 Year Note is currently trading at 3.00%. In addition, the Mortgage Backed Securities are stable. If you are in the process of purchasing or refinancing rates remain at terrific levels.
This Week's Reports: Monday: New Home Sales. Tuesday: S&P Case-Shiller Home Price Index & Consumer Confidence. Wednesday: Durable Goods Orders. Thursday: Jobless Claims. Friday: Gross Domestic Product (GDP), Employment Cost Index & Consumer Sentiment.
Stay tuned for the Next East Bay Mortgage Update...
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Cari: As always a clear, concise, and well-presented market report. Hopefully the forthcoming numbers we receive during the upcoming week will prove positive and happier fodder for your reports.
Gene
Hi Gene: thanks for the comment. We try to put a positive spin on the market reports - there is enough negativity out there already! Take care!