Monday, November 27, 2006

What Are Interest Rates Going To Do? 11/27/06

How often do we hear that question? "What Do You Think Interest Rates Are Going To Do?"
Here is a customer focused report for Mortgage Market Direction

Week of: Monday, November 27, 2006

Present Market Conditions
U. S. economic data continues to confound observers, with every signal of strength being offset by results showing weakness. Indications of a strong beginning to the holiday season last week along with numerous reports due this week could help clarify the forecast for the end of the fourth quarter as well as the beginning of 2007.

Data for durable goods orders, personal income and spending, as well as home sales will all be published this week. Most economists agree that the gradually slowing economy has given the Fed room in the short term to extend its pause in tightening monetary policy although SunTrust Banks chief economist Gregory Miller feels the Fed will need to reduce rates sooner or later as reports "paint a clearer picture of an economy that's struggling more to sustain its growth than struggling to stabilize inflation."

Mortgage rates retreated slightly this past week to their lowest point since January of this year. 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 the best advantage of the mortgage market.

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