Rate Update May 19, 2008

There is not much in the way of economic data scheduled to be released this week so we’ll be watching technical trading patterns and the stock market for clues on the direction of mortgage rates.

Stocks are currently trading up against technical resistance. Should the stock market reverse from recent highs we could see mortgage rates benefit.

Current Outlook: neutral

The views and opinions expressed in this site are those of the author(s) and do not necessarily reflect the official policy or position of Cherry Creek Mortgage Co., Inc. This is for informational purposes only. This is not a commitment to lend.