What's Ahead For Mortgage Rates This Week : March 14, 2011
By David Kosmecki
(American Pacific Mortgage)
Mortgage markets improved last week in a week of few economic releases. The one major data point - Retail Sales - showed stronger-than-expected, but markets reacted mildly. The report's strength was whispered in advance of the actual release; its reading validated Wall Street's growing faith in the U.S. economy. Most action last week revolved around the Middle East: Libya's internal turmoil continued Bahrain clashes intensified Saudi Arabia's citizens planned a Day of Rage In response to these events, Wall Street continued its flight-to-quality. Mortgage-backed bonds are now at their best levels since early-February. Mortgage rates have improved 4 straight weeks. Unfortunately for rate shoppers in Minnesota , the gains have been meager. Conforming mortgage rates have only dropped slight...
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