Monday, June 04, 2007

What Are Interest Rates Going To Do? 6/04/07

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, June 04, 2007

Presently Market Conditions Are:
The latest Jobs Report indicated the economy is rebounding from the weakest growth in four years with a jobless rate at 4.5 percent. This low unemployment reduces the odds the Federal Reserve will cut interest rates. Personal spending rose in April which indicates that American consumers will keep the economy growing this quarter without accelerating inflation. According to the Federal Reserve Governor, Randall Krozner, the subprime market defaults "do not appear to be having a broad impact on economic activity."

My Expectations Are:
"This kind of growth in spending sets us up for a very strong second quarter," said Mark Vitner, an economist at Wachovia Corp. in Charlotte, North Carolina. "The consumer is rolling past the housing slump, worries about the subprime market and high gas prices."

As Your Trusted Advisor For Life My Guidance For You Is:
The Fed Chairman, Ben Bernanke forecasts that growth will pick up in the second half of the year, with inflation remaining a concern. Consumer spending is countering the effects of the housing slump, helped by gains in income and employment. As developers and sellers continue to drop their prices to move their inventory, it's a great time to purchase a home. Capitalize on this exceptional season by seeking the assistance of a qualified professional.

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