Monday, January 26, 2009

What Are Interest Rates Going To Do? 1/26/09

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 26, 2009

Presently Market Conditions Are:
Interest rates for fixed-rate mortgages followed bond yields and edged up last week. Frank Nothaft, chief economist for Freddie Mac stated, "Over the first three weeks of 2009, interest rates for 30 year fixed rate mortgages averaged .25 percentage points below its monthly average for December 2008."

My Expectations Are:
This week will be a busy week for investors. The highlight will be Wednesday's Fed meeting. With the fed funds rate close to zero, rate cuts may no longer be an option. The Fed has many other tools at its disposal, though, and the details will be highly anticipated. Other reports that could affect rates are the Gross Domestic Product’s (GDP) four quarter release, Durable Goods Orders, Home Sales Reports, with Consumer Confidence and Consumer Sentiment to round out the week.

As Your Trusted Advisor For Life, My Guidance For You Is:
With housing prices becoming more affordable and rates becoming more favorable, now is the best time to meet with your mortgage professional to discuss a mortgage solution that meets your financial goals.

On Your Financing Team.
Jeffrey Stanton ITI, CLC, CNE, WOW
Your Personal Mortgage Consultant For Life.

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