The economy continues to provide the Fed with cause for inflationary concerns. Higher fuel prices and the continued real estate slump seem to be providing less and less of a drag on the economy. Last week’s jobs report came in stronger than expected and hourly wages rose slightly. These led to higher interest rates this past week. Look for Retail sales and Consumer sentiment reports on Friday, July 13, 2007. These two reports are of higher importance and do regularly affect mortgage interest rates. As always have your clients remain in close contact with their mortgage professional. Thank you for the opportunity to serve you and your clients.
