Monday, April 16, 2007

What Are Interest Rates Going To Do? 4/16/07

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, April 16, 2007

Presently Market Conditions Are:
March U.S. retail sales rose 0.7 percent, boosting the U.S. economy. With job gains and higher wages, the labor market remains the main reason why consumers have continued to spend. Though consumer spending is on the rise, consumer sentiment fell in early April to figures that are at an eight month low. This drop in sentiment has been attributed to higher gasoline prices and continued declines in the housing market.

My Expectations Are:
Albeit we continue to have a mixed bag of economic news, former Federal Reserve chairman Alan Greenspan feels that the world economy will provide a “cushion” to the U.S. economy. As the trade gap narrows for the third month in a row, Greenspan said growth in the rest of the world is creating demand for services from U.S. companies such as Microsoft Corp. It is predicted by the International Monetary Fund the global economy will grow by 4.9 percent this year, following a 5.4 percent expansion in 2006. The IMF said the U.S. would grow 2.2 percent this year.

As Your Trusted Advisor For Life My Guidance For You Is:
Fixed-rate mortgages remain below 6.5 percent, there has been a robust rise in non-farm payrolls and there have been solid gains in personal income and consumer spending. These factors coupled with the many incredible incentives being offered with home purchases makes this the quintessential time to purchase. To ensure you capitalize on this excellent scenario, always seek assistance from a qualified professional.

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Jeffrey S Stanton
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