Monday, December 08, 2008

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, December 08, 2008

Presently Market Conditions Are:
Rates on 30-year mortgages plunged to the lowest level since January and the largest one-week drop in 27 years, mortgage giant Freddie Mac said on December 4th. Refinance activity surged as interest rates tumbled in response to the Federal Reserve's plan to scoop up $600 billion of mortgage-related securities. The Fed's move was the latest in an unprecedented series of actions to help stabilize the housing and credit markets as well as the broader economy.

My Expectations Are:
Federal Reserve Chairman Ben Bernanke said the government can take steps to improve the functioning of the mortgage market, which would allow more people to secure home loans and help stabilize the housing market. Bernanke stressed the importance of curbing the foreclosure mess because it is so inter-linked with the economy’s health. Fed Governor Randall Kroszner, speaking at the housing finance conference, said it will take time for investor confidence to be rebuilt in the market for mortgage-backed securities issued by private companies. “The recovery ... is bound to be a gradual process,” he said.

As Your Trusted Mortgage Advisor For Life, My Guidance For You Is:
With uncertainty in the job markets and the overload of reports on the country's economic troubles, it's critical for your home owners and potential home buyers to work with a knowledgeable mortgage professional who can asses their needs and offer solid financial solutions.

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