Monday, March 05, 2007

What Are Interest Rates Going To Do? 3/05/07

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, March 05, 2007

Presently Market Conditions Are:
Last week was terrific for the mortgage market. Several factors such as instability in global stock markets, investor concerns about defaults in the sub-prime mortgage market and lowered fears over the threat of inflation all combined to create an "investor flight to quality" and drive mortgage interest rates lower.

My Expectations Are:
It appears that investor concerns over global stock markets will continue into this week, while U.S. employment growth is expected to be reported weaker than average. The manufacturing sector is not growing rapidly and orders for durable goods were down by 7.8% last week. In spite of some slowing economic news, consumer confidence is surprisingly strong and inflation concerns are mild, all positive signs for the mortgage market.

As Your Consultant For Life My Guidance For You Is:
As homebuilders continue to sell down their excess new home inventories and mortgage interest rates continue to improve, the average sales price for new homes across the country fell by 2.5% last month. Homebuyers remain in a good position as the traditionally strong spring housing season begins. Please consult with a true mortgage professional to ensure your mortgage solution is tailored to your financial needs.

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Jeffrey S Stanton
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