Monday, December 24, 2007

What Are Interest Rates Going To Do? 12/24/07

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 24, 2007

Presently Market Conditions Are:
Investors were set to focus on the holiday shopping outlook. Retailers said stores were crowded in the final weekend before Christmas, but still expected that sales totals would be modest. The economic calendar in the coming, holiday-shortened week yields a couple of interesting indicators on consumer confidence, manufacturing and new home sales. The Treasury will conduct its regular monthly note auctions while the Feds liquidity auctions go on hold until January. Financial markets could be quiet for a couple of days before the final week when traders wrap up a tumultuous year.

My Expectations Are:
Frank Nothaft, Chief Economist for Freddie Mac stated that stronger-than-expected inflation reports and retail sales for November put upward pressure on long-term interest rates late last week. However, ensuing data releases suggested further weakness in the housing market over November and December and allowed interest rates to drift back down. The net effect left mortgage rates little changed this week.

As Your Trusted Advisor For Life, My Guidance For You Is:
With the Christmas Holiday on everyones mind and the market waiting for the post holiday reports, now is a great time to secure your financing with your mortgage professional. They will guide you toward the best mortgage product to meet your financial goals for the New Year.

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