Rate Update March 14, 2008
And the hits just keep on coming. The volatility and unpredictability of the markets are UNPRECEDENTED right now.
Yesterday afternoon we thought that the most important news for mortgage rates this morning would be the Consumer Price Index (CPI). This report was released and showed tame inflation numbers which is a good sign for mortgage rates.
However, the big news this morning surrounds Bear Sterns (BSC), one of the big five investment banks on Wall Street. Watch today’s you tube video to understand what the news is and how it could impact mortgage rates….
Current Outlook: neutral