Mortgage News Week In Review August 4th, 2014 Dana Bain Premiere Mtg
By Dana Bain
(Premiere Mortgage Services Inc.)
http://www.bainmortgage.com/MortgageMarketWeekInReview Newsletter-August 4th, 2014 Provided by Dana Bain & Robin Dunbar Bain Dana BainPremiere Mortgage Services11 Malvern Hill RoadSterling, MA 01564Phone: (978) 422-2311Fax: (978) 422-2313E-Mail: dana@bainmortgage.com Market Comment Mortgage bond prices finished the week lower, which pushed mortgage interest rates higher. Rates were positive the beginning of the week tied to stock weakness. Those improvements were erased in response to stronger than expected Automatic Data Processing (ADP) employment and Gross Domestic Product (GDP) data mid-week. The negative trend continued Thursday. The Employment Cost Index (ECI) rose 0.7% versus the expected 0.5% increase. The heavyweight employment report released Friday was weake...
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