Monday, December 15, 2008

What Are Interest Rates Going To Do? 12/15/08

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, December 15, 2008

Presently Market Conditions Are:
Mortgage rates moved lower on November 25 as the Fed announced its’ purchase of $500 billion of mortgage backed securities. The trend continued this week as fixed rates dropped to their lowest levels since 2003 based on retail sales and inflation numbers.

My Expectations Are:
News of the failed auto bail-out continues to affect Wall Street and drive investors to U. S. Treasuries yet again. According to Jay Mueller at Wells Fargo Capital Management, “People are not buying Treasury bills because they think the yields are attractive. They are afraid to put money anywhere else.” Watch this week for Tuesday’s Fed meeting and the expectation for a 50 to 75 basis point cut. Also, on Tuesday, look for the Consumer Price Index (CPI) and Housing starts reports.

As Your Trusted Advisor For Life, My Guidance For You Is:
The Fed is concentrated on stabilizing the housing market which makes for an incredible time to capitalize on this opportunity and take advantage of rates while they are at record lows. Get with your mortgage advisor today to structure a mortgage to meet your clients needs.

On Your Financing Team.
Jeffrey Stanton
Your Personal Mortgage Consultant For Life.

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