Monday, November 24, 2008

What Are Interest Rates Going To Do? 11/24/08

Dear Friends,

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, November 24, 2008

Presently Market Conditions Are:
Mortgage rates dropped for a third straight week as stock prices fell to their lowest level in 5 years. The continuing decline has been sending investors to put their money in government backed debt thus lowering the yield yet again.

My Expectations Are:
The week may be shortened due to the Thanksgiving holiday, but look for several significant economic indicators, including existing home sales, jobless claims and durable goods. The Fed is also rumored to cut rates yet again when they meet. “You want to do everything you can when you’re facing the threat of a deflationary breakdown of the economy,” says Michael Feroli, a former Fed official who is now an economist at JPMorgan Chase & Co. in New York.

As Your Trusted Advisor For Life, My Guidance For You Is:
With interest rates at an all time low the affordability of homes, now is an excellent time to meet with your mortgage professional. Let them customize a program to meet your financial needs.

On Your Financing Team.
Jeffrey Stanton
Your Trusted Mortgage Advisor For Life

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Jeffrey S Stanton
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