Monday, June 18, 2007

What Are Interest Rates Going To Do? 6/18/07

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 18, 2007

Presently Market Conditions Are:
Mortgage rates leapt higher again in the biggest one-week move in two years, according to the nation's leading surveyor of mortgage prices. The average 30 year fixed rate is 6.86%, the highest average since July 2006. Five-one Hybrid ARMs also bounced higher to 6.58% during the past week. The difference between 30-year FRMs and 5/1 ARMs has widened to its largest gap since last October, making 5/1 ARMs a somewhat more compelling buy, all things considered.

My Expectations Are:
Bruce Kasman, chief economist at JPMorgan Chase & Co. in New York, said he recently lowered his forecast for the housing market to reflect more-expensive mortgages. He maintains that the Fed will raise its target rate on overnight bank loans next year, reaching 6 percent by mid-2008. ``Part of what's happening is growth is stronger, and higher rates are reflecting it,'' Kasman said.

As Your Trusted Advisor For Life My Guidance For You Is:
Given one of the strongest global economies in 30 years, attractive U.S. interest rates and the over supply of available homes for sale, the residential market continues to present excellent opportunities for home buyers. Consulting with a true mortgage professional will ensure every real estate transaction is optimized to meet your financial needs.

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