Frank Nothaft
Frank Nothaft
april concerns consumer decline larger market picture price producer released state tomorrow
The Producer Price Index for April, released today, showed a considerably larger decline than had been expected, reaffirming market concerns about the state of the economy. However, the Consumer Price Index for April that will come out tomorrow will give us a much more comprehensive picture of what is actually happening.
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Mortgage rates remained fairly stable this week as the financial markets tried to discern just how quickly the economy is growing and how sustainable that growth will be.
albeit compared few likely modestly mortgage next rates rise
Long-term mortgage rates will more than likely rise over the next few months, albeit modestly compared to shorter-term rates.
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There is a slight chance the Federal Reserve Board will raise rates when it meets later this month, but with the current labor market and slowing consumer spending, it is more likely that it will take no action until August at the earliest. As a result, short-term interest rates, such as the one-year adjustable-rate mortgage, drifted further down this week.