Monday, January 05, 2009

What Are Interest Rates Going To Do? 1/5/09

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, January 05, 2009

Present Market Conditions Are:
2008 started with low rates and ended even lower as the benchmark 30-year rate fell 20 basis points to close the year. “Interest rates for 30-year fixed rate mortgages fell for the ninth straight week and represented a third consecutive all time record low since Freddie Mac’s survey began in April of 1971,” said Frank Nothaft, Freddie Mac vice president and chief economist.

My Expectations Are:
It’s a full week of economic data now that the holidays are behind us. Today, motor vehicle sales will be the focus and looked at closely. Bad news on this front could trigger bankruptcy discussions again. On Tuesday, the Pending Home Sales report should see a boost from declining interest rates, but the most widely anticipated report to watch for is Friday’s Non-Farm Payroll. Novembers’ report was bleak with a 533,000 drop, the worst since December 1974 and consensus is Decembers’ numbers will follow similarly.

As Your Trusted Advisor For Life, My Guidance For You Is:
Rates are at all time lows and the housing market has become more affordable. Now is the time to take advantage of this incredible opportunity. Meet with your mortgage professional now to structure a mortgage solution to meet your clients financial goals.

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

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