Monday, June 16, 2008

What Are Interest Rates Going To Do? 6/16/08

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, June 16, 2008

Presently Market Conditions Are:
Oil, inflation, consumer confidence and politics have collectively reached peak levels and negatively impacted mortgage backed securities in the past several weeks. Although many believe that crude oil prices have reached extremely speculative and unsustainable highs, financial markets will not return to more "normal" levels until prices of crude oil decline. Amazingly, April pending homes sales rose strongly, up 6% from March and far exceeding analyst expectations.

My Expectations Are:
According to MBS Quoteline, "The biggest economic report of the week will be Tuesday's Producer Price Index (PPI) inflation data. PPI focuses on the increase in prices of "intermediate" goods used by companies to produce finished products. Housing Starts and Industrial Production, an important indicator of economic activity, will also be released that day. The rest of the week will be much lighter. Fed speakers may have a large impact on mortgage markets as well."

As Your Trusted Advisor For Life, My Guidance For You Is:
It remains a strong "buyers market", with mortgage interest rates still near historic lows. As always, please have tour clients consult with a mortgage professional in order to explore a full range of potential financial solutions before they make any real estate investment.

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