Rate Update May 27, 2008

Inflation, inflation, inflation seems to be popping up everywhere. This morning’s monthly consumer confidence report showed that consumer confidence sunk to a 16 year low. Ordinarily bad economic news would help mortgage rates but this morning it’s not the case. Watch today’s you tube video to understand why.

Here are a couple other links that are referenced in today’s you tube video:
*Wikipedia.org- Rational Expectations & inflation
*The Economist- Inflation in emerging economies
*Evan’s blog- Inflation & mortgage rates

Current Outlook: locking