Monday, January 22, 2007

What Are Interest Rates Going To Do? 1/22/07

You, like me are asked this question often. "What Do You Think Interest Rates Are Going To Do?" You know, now here is a customer focused report for Mortgage Market Direction.

Week of: Monday, January 22, 2007

Present Market Conditions Are:
Recent economic indicators continue to reflect a strong U.S. Economy. Fridays reporting of the Consumer Sentiment Index from the University of Michigan showed consumers were more upbeat about the current and future economy. At 98.0, the Index is at its highest since January 2004 and was well above the 92.0 expected by economists.

My Expectations Are:
Core CPI reported last Thursday showed a slight increase in the rate of inflation with the 0.5% increase in core consumer goods in line with economists expectations. These relatively tame inflationary figures are expected to have very little impact when the Fed meets next at the end of January. "The tame core CPI data reinforce the arguments against the Fed tightening, but until there is more consistent weakening in the labor market, likely including a rise in jobless claims, there will be no rush to ease," wrote UBS economists Maury Harris and Jim O'Sullivan.

My Guidance For You:
Mortgage rates increased slightly but remain near historic 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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