Monday, February 25, 2008

What Are Interest Rates Going To Do? 2/25/08

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 25, 2008

Presently Market Conditions Are:
Concerns about the weakened economy and the ability to stave off inflation have investors and consumers nervous about the future. The Feds aggressive interest rate cuts have failed to push mortgage rates lower and have done little to help the battered U.S. housing market. The recent Fed rate cuts are believed to be a response to inflationary concerns and as a result mortgage interest rates have increased. Dallas Federal Reserve President Richard Fisher said on Friday that it will take some time for interest-rate cuts the Federal Reserve has made since last September to kick in and boost the economy.

My Expectations Are:
Fed Chairman Ben Bernanke is slated to discuss the central bank's forecast in testimony to Congress on Feb. 27 and 28. Fears of a U.S. recession have intensified as home prices remain under pressure and are not expected to stabilize until later this year and as financial credit conditions remain tight. Robert McTeer, former Dallas Fed president and a fellow at the National Center for Policy Analysis in Dallas said "The Fed can give liquidity to the markets, but the Fed cannot do much if the markets are afraid of solvency risks."

As Your Trusted Advisor For Life, My Guidance For You Is:
With home prices down nearly 7-8% nationally, this is a strong buyers market and a great time to buy a home. Consult with a qualified mortgage professional who can assess your needs and recommend the best program for you.

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Jeffrey S Stanton
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