Archive for the ‘Interest Rate’ tag
Action-Packed Week for U.S. and Canadian Markets
According to strategists and economists, markets will be looking for
some direction next week with the release of major economic reports. In
the U.S., markets will receive PPI, CPI, retail sales, FOMC
minutes and regional manufacturing reports on top of Fed
Chairman Ben Bernanke testifying before Congress and the Senate. In
Canada, markets will focus on the Bank of Canada’s interest rate decision
and monetary policy report.
Fed Report on Inflation Prompts Moderation in Interest Rates
Mortgage interest rates dropped slightly during the
week ended July 3 according to results of the Primary Mortgage Market
Survey released by Freddie Mac.
The 30-year fixed-rate mortgage (FRM) eased back from the 6.45 percent
with 0.6 point that it had averaged for the week ended July 26 to 6.35
percent also with 0.6 point.
Loan activity as measured by loan application volume
increased…
Expect Pending Home Sales to Keep Falling, Economists Say
The 4.7% decline in U.S. pending home sales in May shows that the
previous month’s gain was not a true sign of
stabilization, economists said after a release the National
Association of Realtors on Tuesday.
Patrick Newport, U.S. economist at Global Insight, called the
report “disappointing,” noting that a lot of forces such as tight credit
and rising interest rates in May were at work to bring down each of the
four regions’ sales. He said previous data suggested signs of
stabilization, but this release indicates the housing market has yet to
hit a bottom.