How often do we hear that question?
"So What Do You Think Interest Rates Are Going To Do?"
Here is a customer focused report for Mortgage Market Direction
Week of: Monday, October 30, 2006
Present Market Conditions
As many expected, the Federal Reserve left the discount rate unchanged on Wednesday, the third such occurrence after 17 straight increases. Fed officials continue to work towards a "soft landing" for the economy, with growth slowing but not contracting, expecting the moderate growth pace to be enough to ease inflationary pressures.
Expectations
The Fed is waiting to see what happens in the 4th quarter and into 2007 before reducing rates. It is just too soon, and the data are too mixed, for the Fed now to signal an intention to ease, and they want to show the markets that in the unlikely event that growth re-accelerates, they have left the door open to another hike," said Ian Shepherdson, chief U.S. economist at High Frequency Economics.
Guidance
Mortgage rates increased slightly this past week, but remain very close to 40 year lows. These tremendously low mortgage rates coupled with an abundance of available homes make this a terrific time to purchase a home or refinance a mortgage. As always, staying informed of movement in financial markets and having the assistance of a professional consultant will enable you to take full advantage of the mortgage market.
Monday, October 30, 2006
So What Are Interest Rates Going To Do? 10/30/06
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