Monday, December 18, 2006

What Are Interest Rates Going To Do? 12/18/06

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.

Present Market Conditions
The economy continues to show signs of strength in the fourth quarter. Last week's decision by the Fed to leave the discount rate unchanged at 5.25% along with a better than expected November retail sales report are clear indications that the economy is looking to finish strong after a slow start to the quarter.

Several key indicators are scheduled this week ahead of the holiday which should provide a better gauge of overall economic health heading into 2007. Both the Commerce Department's report on durable goods orders as well as data on income and spending are scheduled for release on Friday. Most economists surveyed expect the information to reflect moderate increases in both statistics relative to October. "Steady job growth, rising wage rates and moderating inflation are boosting real disposable income at the fastest pace since late 2004," said the economic team at Global Insight.

Mortgage rates inched up slightly last week but remain very close to historical 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.

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Jeffrey S Stanton
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