Mortgage Rate Update August 22, 2011

Posted on by Evan in Rate Update

Mortgage rates are slightly worse again this morning.

After 4 consecutive weeks of losses US stocks are starting this week off stronger pressuring rates higher.  Investors are optimistic that the Fed will uncover a 3rd round of quantitative easing later this week at the annual conference for central bankers in Jackson Hole, Wyoming.  For the record, I would be surprised if they do announce more quantitative easing nor do I think it would be effective.
Mortgage rates are slightly worse again this morning.

After 4 weeks of losses stocks are starting this week higher

The economic calendar is fairly light this week which means we’ll be focusing on US Treasury auctions and activity in Europe.  Friday will be an interesting day with Fed Chairman Ben Bernanke speaking AND a 2nd quarter revision to GDP.

Current Outlook:  locking bias