Thursday, March 16, 2006

Slip in rates eases inflation pressure

News released that retails sales were way down last month had an immediate effect on long term interest rates causing them to lower slightly. It was also announced this easing may have a postive effect on inflation concerns with the likelihood now reduced. We'll keep an eye on the rates and the market stats and post something when we see a change. Chicago was down 0.04% to 6.57% on average for a 30 year fixed mortgage. This is good news for the housing industry, but I wouldn't wait too long as the rising rates are almost inevitable to keep the inflation in check.

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