Monday, February 04, 2008

What Are Interest Rates Going To Do? 2/04/08

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, February 04, 2008

Presently Market Conditions Are:
After two close consecutive Fed rate cuts, the prognosis on the economy is still out for deliberation. The financial markets and consumers are looking for a short-term fix and that is about all that the proposed rebates can deliver. Freddie Mac's chief economist stated that mortgage rates ended their four-week descent this week, with average rates on 30-year and 15-year fixed rate mortgages coming up by about 0.2 percentage points. This increase nearly erased the previous week's decline in these rates. The movements in fixed mortgage rates were broadly consistent with the movements of Treasury bonds over the week.

My Expectations Are:
With U.S. stock futures looking at little change to start this week after the previous session's rally, investors wait to see how Microsoft efforts to buy Yahoo develop and look ahead to a batch of economic reports due out this week. The major indicators due later this week are the Institute for Supply Management, Jobless Claims, and the Consumer Credit Report by the Federal Reserve Board.

As Your Trusted Advisor For Life, My Guidance For You Is:
With rates still holding at a 4 year low, right now is a great time to either purchase or refinance. Contact your mortgage professional to secure the right financing for your individual needs.

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