Mortgage Rates Waiting on the Federal Reserve
Posted To: Mortgage Rate Watch
Mortgage rates moved higher early Friday morning following a better than expected read on Retail Sales. However, as the day progressed, benchmark Treasury yields did move lower, helping mortgage-backed securities prices recover early session losses. Most lenders did not reprice for the better after these improvements though. After a slow week of economic data, the calendar picks up in the days ahead. Starting with manufacturing data this morning.... Each month, the New York Federal Reserve conducts a survey of approximately 175 manufacturing executives in New York State on the strength of business conditions. Readings above 0 indicate expanding or improving conditions while readings below 0 indicate contraction. This data has indicated steady improvements since August of 2009. The Empire State...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.