The Week in Review:
It was a rough week for mortgage interest rates. Positive economic news continued to fuel the fire that the Fed would taper the bond purchase plan sooner than later. Rates climbed .25% to .375% on the week.
What to Expect:
Economic reports will not be a factor this week. Instead, the minutes from the Fed’s last FOMC meeting being released on Wednesday could be a market-mover. The market will be watching closely for clues as to the date the Fed will begin tapering. Also, the Jackson Hole Economic Summit happens at the end of the week. Although Fed Chairman, Ben Bernanke, will not be in attendance, Central Bankers and economist from around the world will be in attendance. Certainly any debate over the topic of the Fed’s next moves will be watched carefully.
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