Monday, December 03, 2007

What Are Interest Rates Going To Do? 12/03/07

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

Week of: Monday, December 03, 2007

Presently Market Conditions Are:
Treasury prices fell Friday after comments about a possible rate cut from Federal Reserve Chairman Ben Bernanke. In a speech this past Thursday night in Charlotte, NC, Bernanke said the central bank will have to be "exceptionally alert and flexible," given tight credit conditions, rising energy costs and weakness in the housing market. The White House lowered its economic growth projection for 2008 due to the deteriorating housing market. The White House also raised its estimate for unemployment next year, but said inflation should moderate. The Fed meets on December 11.

My Expectations Are:
Stocks are anticipated to surge throughout this week as a result of Ben Bernankes recent statements, which Wall Street is grateful. Investors are waiting to see the results of Novembers Unemployment Report due to be released on Friday. With current movement in the marketplace, look for the rates to hold relatively steady throughout the week.

As Your Trusted Advisor For Life, My Guidance For You Is:
With rates still holding at historical lows and price of housing holding relatively steady, now is an ideal time to take advantage of the current market. If you are considering purchasing or refinancing, contact a professional who is committed to your needs and knowledgeable with the current mortgage guidelines.

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Jeffrey S Stanton
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