Monday, January 14, 2008

What Are Interest Rates Going To Do? 1/14/08

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, January 14, 2008

Presently Market Conditions Are:
U.S. stocks pointed to a modestly higher opening this week after they declined last week on increasing concerns about the economy. The darkening outlook has also raised hopes that the Fed would slash rates before its next meeting. Futures had wavered earlier amid concerns about upcoming bank earnings and a profit warning from retailer Sears. With no major economic reports due out at the beginning of the week, Art Hogan, chief market analyst at Jefferies & Co. said stocks were also enjoying a technical bounce after last week's steep selloff.

My Expectations Are:
With the dollar extending three weeks of declines as Federal Reserve officials including Chairman Ben S. Bernanke signaled they favor greater ``insurance'' against an economic slowdown amid the slump in the housing market. European Central Bank council member Klaus Liebscher said he sees ``significant'' upside risks to inflation. With this news, investors will be looking for significant rate cut by the Fed later this month.

As Your Trusted Advisor For Life, My Guidance For You Is:
With rates hovering around a two year low and the start of a new economic year, now is an excellent time to secure home mortgage financing. Consult your local mortgage professional for an answer to your financial needs.

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