This entry was posted on Sunday, May 13th, 2007 at 1:25 am and is filed under Economy, Mortgage Rates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Is the Economy Finally Cooling? Sacramento Mortgage Rate Update
The benchmark 30 year conforming fixed rate mortgage ended the week essentially unchanged from last week. Freddie Mac’s weekly survey showed an average of 6.16% with .8 points cost for the western U.S.
WEDNESDAY’S FOMC MEETING
The Fed meeting adjourned Wednesday without any change to key short-term interest rates. This was widely expected, however the Fed went on to express continued concern about inflation and wage pressures, creating volatility in late trading.
PPI & Retail Sales
On Friday, the core PPI rate reported flat for the second month in a row, increasing hope for a Fed easing of rates later in the year. Compounding the sentiment was a decline in April retail sales, the biggest drop since September and worse than expected. Earlier in the week a spike in consumer revolving debt use—mostly credit cards—to 9.2% in April from 2.9% in March indicating that consumers will continue to prop up the economy even if it means increasing debt to do it.
May 17th, 2007 at 1:23 pm
Greetings,
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Thank You for sharing.. Keep up the good work..
More Power,
Freddie Aguilar