The only big economic news this week was that first-time unemployment benefits fell to a 42-year low further supporting a strengthening US economy.
Interest rates mildly moved down this week in response to a down stock market, but remain range-bound. Looking ahead, most experts feel that interest rates are predicted to creep upward, especially in the event the Federal Reserve increases its interest benchmark (the Feds Fund Rate) in September 2015.
Next week will be interesting with the two-day Federal Open Market Committee (FOMC) convening July 28th and 29th, and 2nd quarter Gross Domestic Product (GDP) growth numbers due out.
With the 10-year U.S. Treasury hovering around 2.26%, our posture remains biased toward locking in loans ahead of the FOMC meeting and GDP growth report. These two events could have major positive or negative implications for interest rates next week.