7/07/2006

Inman News reports that the Federal Reserve's recent tone hinting at possibly no further rate increases may have changed after its June 29 statement. 10-year Treasury note rates declined, so did mortgage rates which closely follow the Treasury notes and yields on long-term government bonds. Later positive predictions of June job growth may have the effect, though, of another increase in August by the Federal Reserve, which will ultimately impact the mortgage rates. Be prepared.

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