Friday, October 1, 2010
Weekly Information 10/1
Mortgage interest rates were mostly flat on the week despite economic data generally exceeding expectations. Economic data better than expected included weekly jobless claims, the final look at Q2 GDP, the Chicago Purchasing Managers Index, August Personal Income and Spending, the University of Michigan Consumer Sentiment Index, and August Construction Spending. The Case Shiller Home Price Index and the September ISM Manufacturing Index were in line with expectations. The September Consumer Confidence Index was the only report that was weaker than expected, falling to 48.5, its lowest level since February. Also of note, the Treasury auctioned $100 billion in 2 Year Notes, 5 Year Notes, and $7 Year Notes. Overall, the auctions were met with strong demand.
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