Monday, March 26, 2007

What Are Interest Rates Going To Do? 3/26/07

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 26, 2007

Presently Market Conditions Are:
There can be no doubt that the economy is sending mixed signals at the moment, with a few signs of distress which may actually have the Federal Reserve consider easing interest rates before the end of the year. Existing home sales for the month of February rose unexpectedly while new home sales in February dropped by 3.9%, to a level not seen since June of 2000. The new home sales data was adversely affected by severe weather impacting the Northeast U.S. housing market.

My Expectations Are:
Given the mixed economic signs of slowing new home sales, low inflation, historically low interest rates, low U.S. unemployment levels and a six month inventory of new & existing homes for sale, homebuyers may have an upper hand as the spring housing market reaches full bloom. As the U.S. stock market continues to be volatile, consumer confidence remains surprisingly positive. Chicago Federal Reserve President Michael Moskow said problems in subprime mortgages are not spilling over to the rest of the U.S. housing market, which is in the process of stabilizing.

As Your Consultant For Life My Guidance For You Is:
Homebuyers are faced with an almost "perfect storm" of historically low mortgage interest rates, high home inventory levels and sellers eager to sell. To ensure you capitalize on this excellent economic scenario, choose a advisor skilled in designing mortgage solutions tailored to your long term financial goals. Always seek assistance from a qualified, professional.

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Jeffrey S Stanton
DRE ID # 01865119