Mortgage rates dip on weak employment data

Mortgage rates dip on weak employment data: "Mortgage rates dip on weak employment data
If mortgage experts polled this week by Bankrate.com are correct, now is the time to lock in on interest rates. A clear majority of the panelists (63 percent) believe mortgage rates will rise over the next 35 to 45 days. One-quarter think rates will fall, and the rest (12 percent) predict rates will remain relatively unchanged.
WASHINGTON -- June 9, 2006 -- Mortgage rates fell this week as a weaker-than-expected employment report eased concerns about inflation.

Freddie Mac, the mortgage company, reported Thursday that rates on 30-year, fixed-rate mortgages averaged 6.62 percent, down from 6.67 percent last week, which had been the highest level in nearly four years.

It marked only the second rate decline in the past 11 weeks and still left the 30-year mortgage more than a percentage point above where it was a year ago."

U.S. Fed chief warns about inflation pressure

WASHINGTON -- June 6, 2006 -- U.S. Federal Reserve Board Chairman Ben Bernanke warned Monday of persistent inflation pressure despite moderating economic growth, and vowed to focus on prices in determining monetary steps.

The medium-term inflation outlook ''will receive particular scrutiny'' when the U.S. central bank decides on its next credit move at its policy-making Federal Open Market Committee meeting on June 28-29, Bernanke said in an address to the World Monetary Conference.

There is a strong consensus among the FOMC members that maintaining low and stable inflation is essential, and the panel ''will be vigilant to ensure that the recent pattern of elevated monthly core inflation readings is not sustained,'' he said.

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