Despite the Federal Reserve’s cutting interest rates by ¼ point last week, rates were driven upward. Many bond traders unloaded holdings, which pushed mortgage rates sharply upward. Retail sales came in much stronger than expected and both the CPI and PPI revealed that inflationary pressures may be on the rise. W The Fed announced that it will be injecting additional cash into the market and will be providing additional access to US dollars for a number of foreign central banks. Get the best mortgage rate by obtaining all cost information
