Posted To: Mortgage Rate Watch
I hope everyone had a fantastic holiday weekend…now it’s back to work. Last week ended on a flat note with mortgage backed securities closing basically where they opened Friday morning. Bolume was extremely light but that was expected as the markets were only open for a half day. The data calendar is very light today with the only report being the Chicago PMI which is a survey of businesses conditions around the Chicago region. Readings above 50 indicate expansion while readings below 50 indicate contraction. Last month’s survey registered the first above 50 reading since the summer of 2008 with a reading of 54.2. Expectations called for this month’s report to come in slightly lower at 53.0. The release indicated that business conditions around the Chicagoland area continue…(read more)
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Original post by Victor Burek
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