Atlanta Mortgage Rate Update - 6/26/2006

There was little in the way of economic news last week to move the bond markets, however, continued fear of inflation has pushed bonds lower for the last 13 straight sessions. Again, Atlanta mortgage rates were up slightly for the week.

The outlook for this week, is for a week of volatility. There are a number of reports which will move bonds this week. Most attention, however, will be focused on Thursday's meeting of the Fed. Also of note will be Tuesday's consumer confidence and existing home sales reports. Again, we continue to take a stance of locking rates ASAP as we move through this turbulent time in the mortgage and bond markets.

Indications right now show rates continuing to rise through the end of this year, with an easing of rates starting early in 2007. This is, of course, subject to change as inflation news unfolds.