Mortgage Rates Predictions

  

  

  

  

  

  

June 9, 2008 | Mortgage Rates continue to head higher.

This morning Pending Homes Sales actually reported a 6.3% improvement for April.  Now that the good news for mortgages is out of the way, inflation seams to be on everyone’s mind.  Mortgage Bonds are currently -75bp.  $4.00 a gallon was the US average price for gas being broken on Sunday.  Today we have a string of FOMC member speaking.  The New York Fed President Timothy Geithner has speaks at 12:15pm, Dallas Fed President Richard Fisher is interviewed at 1:00pm, and at 8:15pm ET Fed Chairman Ben Bernanke will be giving his incite on inflation.  The end of this week is packed with elevated market movers.  As far as mortgage rates predictions for the week, I believe mortgage bonds are oversold and we should get back these losses Thursday’s retail sales report.  I predict that rates will improve after today’s unsolicited blood bath.