Sunday, October 28, 2007

What Are Interest Rates Going To Do? 10/28/07

Dear Friends,

1000's of Agents like you are asked this question every day like me. "What Do You Think Interest Rates Are Going To Do?" Now here is a customer focused report for Mortgage Market Direction:

Week of: Sunday, October 28, 2007

Presently Market Conditions Are:
Stocks surged at the end of last week gaining momentum as Microsoft's upbeat earnings and Countrywide's optimistic outlook to return to profitability in the fourth quarter overshadowed any potential worries about a plunging dollar and surging oil and gold prices. Bonds closed mixed for the week reacting to the rallying stock market.

My Expectations Are:
All eyes will be on the Federal Reserve this week as Wall Street is betting that the Fed will cut interest rates by a quarter percentage point at the conclusion of its two-day meeting Wednesday. "Fed members don't want to contribute to volatility in the market. And to the extent that the market is expecting a move, if a rate cut doesn't happen they would do that," said Keith Hembre, chief economist with First American Funds.

As Your Trusted Advisor For Life, My Guidance For You Is:
Keep in mind that interest rates change as a result of the financial markets and move upward and downward on a daily basis. Mortgage rates are still near historical lows making it a great time to secure financing. Leverage the knowledge and expertise of a trained mortgage professional to ensure you are choosing the best option to meet your financial needs.

On Your Team
Jeffrey Stanton
Your Trusted Advisor For Life

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