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 19, 2007
Presently Market Conditions Are:
Though the U.S. economy and job market remain firm, there has been a steady stream of headlines over the past week about problems in the subprime mortgage market which may lead to further agitation in the stock market. Wall Street’s anxiety level may continue to climb this week as housing sector indicators are due and the Federal Reserve is scheduled to meet but no expectation of change in short-term interest rates.
My Expectations Are:
Albeit the housing sector has created some drag on the U.S. economy over the past year, currently the Fed is closely watching overall inflation in determining the Fed funds rate. It is believed by many that the current rate of inflation does not warrant a cut in short-term interest rates. Chris Hyzy, managing director and investment strategist for U.S. Trust in New York, said there may be some subtle changes in the wording of the Fed’s policy statement, but a cut in rates is not likely until sometime this summer.
As Your Consultant For Life My Guidance For You Is:
The market has an abundance of new and existing homes for sale and prices are extremely favorable. This coupled with very attractive mortgage rates makes this an optimal season for homebuyers. Please consult with a true professional to ensure your clients mortgage solution is tailored to their exact financial needs.
Monday, March 19, 2007
What Are Interest Rates Going To Do? 3/19/07
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