Connecticut mortgage rates moved higher last week for refinancing, and home purchase. The bond market took a beating as stocks surged despite mixed data. Existing CT 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 CT interest rates rose by about 1 3/8 discount points. The Treasury auctions will take center stage next week. If foreign demand falters we will likely see Connecticut mortgage rates head higher. The bond market will close early Thursday in advance of the New...
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