Cari Anderson's East Bay Mortgage Update for September 7th 2010
Economic News: It is going to be a quiet week for economic data. The stock market has started out lower this week due to questions over the "Stress Tests" in the European Banking Sector. Wednesday will also have the release of the "Beige Book" (released 8 times per year ahead of the Federal Open Market Committee FOMC) meeting.
Mortgage Markets: The 10 Year Note is rallying on the equity weakness this morning with the yield falling back to 2.620% and Mortgage Backed Securities are recovering a bit of last week's losses. Interest rates are a tad bit better than Friday's closing levels.
This Week's Reports: A quiet week for data. Thursday: International Trade & Jobless Claims.
Stay tuned for the Next East Bay Mortgage Update...