Mortgage rates hold at 2006 low point

No news of deepening economic slowdown

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

Mortgage rates have held last week’s 6 percent low (also the low for 2006), but there is no follow-through and the market is vulnerable without news of deepening economic slowdown.

The Federal Reserve’s meeting next week will be a non-event (the Fed will stay put at 5.25 percent and say nothing except “wait-to-see”). Housing data due before Christmas might move rates, but the next substantial news will be consumer performance in holiday shopping, which is weeks away.