Monday, October 20, 2008

What Are Interest Rates Going To Do? 10/20/08

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, October 20, 2008

Presently Market Conditions Are:
30 year fixed rate mortgages rose last week as treasuries fell. This was due to stocks being up which led to selling in the bond market. According to Martin Mitchell, head government trader at Stifel Nicolaus & Co. “That’s helping to pressure the market”.

My Expectations Are:
Look this week to the economic calendar with reports due for jobless claims and existing home sales. The market may continue to experience swings as banks deal with the continuation of tightened credit markets.

As Your Trusted Advisor For Life, My Guidance For You Is;
The good news is that rates are low and the housing market continues to offer great buying opportunities. Now is the time to seek the counsel of your mortgage advisor and structure the right mortgage for your clients.

On Your Team.
Jeffrey Stanton
Your Trusted Mortgage Advisor For Life
347-466-3047

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