Mortgage rates improved Tuesday afternoon. Part of the improvement was Fed Chairman's Bernanke comments that high unemployment may persist till 2012. Buyers and sellers of mortgage backed securities love bad news and hate inflation. Bernanke did indicate the recession may be ending soon. Weak employment and housing sales should keep inflation in check and make long term bonds-like mortgage backed securities- attractive to investors.
On Thursday the National Association Of Realtors reports June numbers.
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