Key Dates This Month For Economic News

• June   - Jobs Report
• June  - Retail Sales
• June  - CPI Report
• June  - PPI  Report
• June  - GDP Report
• June  - Existing Home Sales
• June  - New Home Sales

June Mortgage Rate Trends

Existing home sales for the month of May came in above expectations. The slight rebound in home sales is a good sign for the market. The median home price is continuing to decline. Mortgage rates continue to head lower.

The FOMC meeting went as expected as the Fed did not change the fed funds rate. Fixed mortgage rates are trending lower with the news.

New home sales for the month of May were lower than expected. Builders are continuing to reduce inventory in light of the struggling housing market.

The PPI report for the month of May continued to show signs of rising inflation. The numbers are greatly influenced by the rapid increase with oil prices as the seasonally adjusted rate rose 1.4%.

The CPI report for the month of May came in slightly higher than expected. Core inflation was in line rising only .2%. Oil is pressuring consumer prices as expected. Mortgage rates are likely to stay flat with the news.

The retail sales report for May came in better than expected. For the month, retail sales rose a full one percent over the previous month. Mortgage rates have jumped up in the past week to their highest level of 2008.

The jobs report indicated a large increase in the unemployment rate. The decrease of 49,000 jobs was in line with expectations for the month. The market has lost over 300k jobs in 2008. Mortgage rates are trending down with the news.

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