Monday, September 15, 2008

What Are Interest Rates Going To Do? 9/15/08

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, September 15, 2008

Presently Market Conditions Are:
Mortgage rates eased last week with the federal government’s takeover of Fannie Mae and Freddie Mac. Gains on the benchmark 2 year treasury pushed the yield below 2% for the first time since April under speculation the Fed will need to lower interest rates yet again. With this ease, the Mortgage Bankers Association reported a 9.5% increase in loan applications with a 15.4% increase in refinance applications as homeowners strive to fix their variable rate mortgages.

My Expectations Are:
Max Bublitz, fixed income strategist from SCM Advisors, is expecting increased volatility over the next week as a docket full of economic data is released, including Tuesday’s FOMC interest decision, more housing data, Augusts’ inflation data and regional manufacturing surveys.

As Your Trusted Advisor For Life, My Guidance For You Is:
Take advantage of the dip in interest rates and a housing market that favors the buyer. Now is the best time to consult your mortgage professional to structure a mortgage solution to meet your clients needs.

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