Weekly mortgage update

Monday, July 2. 2007

In true form, the Fed chose their words very carefully, saying that inflation had improved modestly, but that a "sustained moderation...has yet to be convincingly demonstrated." But it's their job to be on guard against inflation - so no real surprises there. But on Friday, along came the PCE Index with some hard data on inflation - and it showed that the current year-over-year pace of inflation is down to a friendly 1.9%. Not bad, and within the Fed's desired range of 1 - 2%. So everyone was reasonably happy, no word-eating was required for the Fed, and home loan rates improved about .125% on the week overall. For next weeks forcast be sure to read on in this weeks weekly mortgage update.

Weekly mortgage update.

Posted by Joshua Koffler in Features at 11:36 | Comments (0) | Trackbacks (0)

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