7/16/07 Market Snapshot
Following a wild ride in the markets last week the bond market is slightly improved over Friday’s close. In terms of mortgage prices we are unchanged from a week ago. The Empire State Index was reported Monday morning and the number came in higher than forecast. With a string of economic numbers to be reported this week expect to see some volatility in both bond and mortgage markets. The big news of the week will be the Producer Price Index and Industrial Production on Tuesday, and the Consumer Price Index on Wednesday. The minutes from the last FOMC meeting will be published on Thursday.