Mortgage Rates



This Week: after last week with little economic reports this week has more than a handful to absorb. No data on Monday but the rest of the week has inflation reports (PPI, CPI), reports on manufacturing 9Industrial production and capacity utilization), Philly Fed and Empire State indexes and of course weekly jobless claims. On Wednesday the FOMC minutes from the 1/25 meeting, some thinking out there that the Fed may be considering another QE to boost spending, unlikely the Fed will act but it is something in play now.

Greece still holding Europe and the rest of the world hostage trying to get austerity cuts in order to get another round of funds to avoid defaulting on its debt on March 20th. Over the weekend riots ensued in Greece in rebellion to the draconian cuts needed to trigger the financial package. Overall there isn’t much movement expected in the bond and mortgage markets this week as the 10 yr and mortgages continue in their respective ranges that have been in place since November. Long term rates (10 yr note) cannot be sustained below 2.00%, and cannot climb over 2.05%; mortgage rates confined an even tighter range.