Monday, February 19, 2007

What Are Interest Rates Going To Do? 2/19/07

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, February 19, 2007

Present Market Conditions Are:
Revised economic indicators for January are painting a slightly less optimistic picture than previously thought. Increased seasonal unemployment and reduced industrial output are both signals of an economy that may be slowing down slightly leading many to question which direction the next Fed action may take.

My Expectations Are:
Indications that the U.S. economy is slowing comes on the heels of Fed Chairman Ben Bernankes comment last Thursday that the economy is in better health than many believe. Consumer sentiment was also down in January, leading many economists to predict Fed action lowering rates. Recent reports, including the most recent PPI, "not only eliminates any chances for Fed hikes but opens the way for rate cuts as early as May," wrote Ashraf Laidi, chief currency analyst for CMC Markets.

As Your Consultant For Life My Guidance For You Is:
Mortgage rates increased slightly last week but remain very attractive. 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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