Mortgage Rate Indicators for Denver
Below you will see the upcoming weekly events that might be mortgage rate indicators affecting the interest charged for financing the purchase of a residential property. Basically, there are five factors in general that we watch:
- Technical Signs
Market Comment - Week of December 28th, 2009
Mortgage bond prices fell last week pushing mortgage interest rates higher. The bond market took a beating as stocks surged despite mixed data. Existing home sales in November rose a surprising 7.4%. However, revised gross domestic product figures showed the economy only grew 2.2%, which was weaker than the expected 2.8% mark. Personal income and outlays data came in weaker than expected helping a bit. Unfortunately, the thin trading conditions magnified the earlier losses and made it difficult to recover. For the week interest rates rose by about 1 3/8 discount points.
Consumer Confidence Index
The Conference Board releases the Consumer Confidence Index on the last Tuesday of every month. The report details the levels of confidence individual households have in the performance of the economy. The data is derived from a survey of 5,000 households nationwide. The survey polls consumer opinions on current business conditions, their jobs, their incomes, and their future spending plans.
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Ruth Vogt, Sales Manager
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