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Mortgage Rate Forecast
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June 6, 2005 LOS ANGELES -- On Monday we saw a short
gain on Treasury pricing by day's-end. Trading of such was minimal as many
held-back aggressive pushes in lieu of commentary to be released this week by
Fed Chairman Alan Greenspan.
Although Mr. Greenspan's comments which are scheduled to come
forth this week are not too substantive with respect to how
home loan interest rates will be
affected, the anticipation of his words likely kept treasury investors at bay
early in the week.
On Monday, the most substantial gains were made in long-term
treasuries, as 30-year bond prices went upwards 21/32 to arrive at 117-17/32 and
yielded 4.25 percent by the closing bell. Friday's tally came-in at 4.29, which
is a slight bit higher than those seen on Monday.
I predict
mortgage rates will remain stable this week unless Alan Greenspan pulls a
whammy by releasing unexpected data. - By Stockton Marquette, Mortgage Market Analyst and Columnist/Mortgage
Rate Forecaster.
Email Mr. Marquette.
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