Monday, November 19, 2007

What Are Interest Rates Going To Do? 11/19/07

You like me, are asked this question every. "What Do You Think Interest Rates Are Going To Do?" Now here is a customer focused report for Mortgage Market Direction:

Week of: Monday, November 19, 2007

Presently Market Conditions Are:
Thanksgiving week means a short week in the financial markets and a big start to the holiday shopping season. The price of this year's Thanksgiving dinner will be about 5 percent more than a year ago. Consumers are paying more for gas and home values are down but job growth remains good. Forecasters predict the unemployment rate will remain at 4.6 percent this year. If that happens, it would match last year's rate, a six-year low.

My Expectations Are:
"While the economy faces a higher risk of recession from credit markets, housing, and energy prices, National Association for Business Economist's (NABE) panelists still do not see recession as the most likely outcome," said Ellen Hughes-Cromsick, the group's president and chief economist at Ford Motor.

As Your Trusted Advisor For Life, My Guidance For You Is:
Mortgage rates are still low by historical standards and buyers have a huge inventory of homes from which to choose. As inventories of unsold houses have risen, prices have been falling in many areas of the country. Consult a professional to discuss your goals and explore your various options as you consider purchasing or refinancing a home.

On Your Team
Jeffrey Stanton
Your Trusted Advisor For Life

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