Monday, October 27, 2008

What Are Interest Rates Going To Do? 10/27/08

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 27, 2008

Presently Market Conditions Are:
Mortgage Rates fell this week due to a couple of factors. When stock prices fall or are increasingly unstable, investors move to buy bonds, which lowers yields. Central Banks have been trying to loosen the strangle hold on credit lending to business and consumers and those efforts are finally paying off.

My Expectations Are:
Mortgage rates have been volatile for a few weeks and that may continue as the stock market continues to struggle to find stable ground. The good news is the fluctuation in rates is not nearly as dramatic as stock market pricing. This week, look for an anticipated cut by the Fed, the report on new home sales and news the consumer will retrench their spending according to Robert McTeer, former president of the Fed Bank of Dallas.

As Your Trusted Advisor For Life, My Guidance For You Is:
The swing in mortgage rates is moderate considering the economic volatility. This continues to promise an incredible opportunity to take advantage of rates that are still at historical lows and a housing market that offers some amazing deals. Now is the time to meet with your mortgage professional and structure a mortgage that meets your clients needs.

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

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