The Week Ahead

Events likely to effect mortgage rates this week:

1. Tomorrow the Producer Price Index (PPI) and Core PPI will be released. This is a measure of inflation.

2. Also tomorrow the Fed will announce its latest decision on short-term interest rates. Most analysts agree the Fed will raise rates another 25 basis points.

3. Existing Home Sales will be announced on Wednesday.

4. Thursday we will see the release of Durable Goods Orders, Initial Jobless Claims, and New Home Sales.

There will be reactions, then actions and more reactions. This will be a bumpy ride folks. Almost like a plane going through some turbulence. Nothing to worry about - the market has already adjusted what it believes the report will contain. Unless Greenspan and the Feds say something widely radical.

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