Tuesday, May 27, 2008

What Are Interest Rates Going To Do? 5/27/08

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: Tuesday, May 27, 2008

Presently Market Conditions Are:
Interest rates for fixed-rate mortgages fell slightly last week as a result of the increased price in Treasury Bonds according to Frank Nothaft, chief economist for Freddie Mac. Part of the increase was based on the speculation that the Fed will not be decreasing rates. "The thinking is that they will stay on hold, and that's good for Treasurys," said John Spinello, bond strategist at Jefferies & Co. "There's also some speculation that if you get a pickup in the economy that the Fed might raise rates. I don't agree with the tightening, and more likely they'll stay on hold for the rest of the year."

My Expectations Are:
Despite this being a shortened business week, there will be much activity. Investors will be anxiously waiting for the results of the Consumer Sentiment, GDP, Consumer Confidence Index, New Homes Sales and the Jobless Claims reports all due out this week.

As Your Trusted Advisor For Life, My Guidance For You Is:
With housing prices favoring a buyers market and rates holding at historic lows, now is the best time to contact your mortgage professional so they can structure a mortgage solution to meet your clients financial goals.

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