"The momentum of the stock market continues to be felt..."
The overall onslaught on bonds slowed this week, but pressure remains persistent. FHA and VA rates remain the same since last week, conventional rates nudged upward just a bit. The momentum of the stock market continues to be felt as the DOW continued to increase over the last week. Market triggers reported underwhelming evidence of an improving economy as both GDP and durable goods orders missed expectations. Durable goods reflect the health of manufacturing orders across the country. The more orders being placed for goods to be manufactured, the healthier the economy. Inflation continues to be an area of concern, but currently we are still below the FED targets for alarm.