Monday, August 27, 2007

What Are Interest Rates Going To Do? 8/27/07

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, August 27, 2007

Presently Market Conditions Are
Last week, new home sales rose 2.8 percent in July. Credit concerns are making mortgages harder to get, though the numbers indicate that enough well-qualified buyers have decided to stop sitting on the sidelines to give the market a boost. New home sales unexpectedly rose in July for the second time this year, to an annual pace of 870,000, the Commerce Department reported Aug. 24. Purchases may show renewed weakness as turmoil in credit markets pushes some mortgage lenders out of business and prompts others to restrict lending, economists said.

My Expectations Are:
"We continue to wrestle with the interrelated challenges of softer demand and excess housing supply in most markets," remarked Chief Executive Officer Robert Toll of Toll Brothers. This week Consumer confidence numbers will be released as well as the closely monitored Federal Reserve Chairman's speech on Friday to the Economic Symposium in Jackson Hole, Wyoming.

As Your Trusted Advisor For Life My Guidance For You is:
The current market conditions dictate three essential and critical steps if you are currently considering purchasing or re-financing real estate. 1). Identify a quality source of information, 2). Identify a knowledgeable professional and listen to their advice so that proper timing and execution are achieved, and 3). Tap into the resources of a skilled mortgage professional to insure you are making sound financial decisions.

Your Trusted Advisor For Life
Jeffrey Stanton

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