Tuesday, September 02, 2008

What Are Interest Rates Going To Do? 9/02/08

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, September 02, 2008

Presently Market Conditions Are:
Mortgage rates were mixed this week as fixed rates fell slightly and adjustable rates had a moderate increase. Chairman Ben Bernanke’s remarks at the Fed’s annual conference fueled speculation that there is a reluctance to raise rates. According to Daniel Shakelford at T. Rowe Price Group, Inc., “The Fed’s on hold for the foreseeable future”. The 10-yr note yield dropped 14 basis points for the month of August ending at 3.81 and is seen as range trading according to David Brownlee, head of fixed income at Sentinel Asset Management.

My Expectations Are
Economic reports due this week include Construction Spending, ISM Manufacturing, Domestic and Total Vehicle Sales, Mortgage Delinquencies, Jobless Claims and Non-Farm Payroll.

As Your Trusted Advisor For Life, My Guidance For You Is
Homes are more affordable and rates are still incredibly low. Now is the time to meet with your mortgage professional so they can structure a mortgage solution to meet your clients financial goals.

Jeffrey S Stanton,
Your Mortgage Consultant For Life

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