Monday, August 11, 2008

What Are Interest Rates Going To Do? 8/11/08

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, August 11, 2008

Presently Market Conditions Are:
“Mortgage rates were largely unchanged following the Federal Reserve’s decision to leave monetary policy intact” stated Frank Nothaft, Chief Economist for Freddie Mac. “The overall price index in the second quarter gross domestic product (GDP) figures grew at a slower pace than the previous quarter, which suggests lesser inflation pressures in the economy. In addition, there were fewer job losses in July than the consensus forecast, although the unemployment rate crept up.”

My Expectations Are:
Look for the markets to hold pending the Retail Sales Report, one of the primary economic indicators, which will be published mid-week. Investors will also be keeping a close eye on the Consumer Price Index (CPI) as well as the Industry Production and Capacity Utilization Reports due out later in the week.

As Your Trusted Advisor For Life, My Guidance For You Is:
With rates still hovering 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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