What Are Interest Rates Going To Do? 2/16/09

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, February 16, 2009

Presently Market Conditions Are:
The American Recovery and Reinvestment Act of 2009 will be signed by President Obama this week and is expected to create or save 3.5 million jobs. Consumers continue to be concerned about the economy, jobs, and housing as reflected in the five point decrease in Consumer Sentiment from January to February. This week, as President Obama addresses the housing crisis, Wall Street hopes firm details outlining who will be helped and what actions will be taken, ultimately shape the speech. The minutes of the January Federal Open Market Committee meeting and key data reports on housing and inflation will be released.

My Expectations Are:
Celia Chen of Economy.com author of “Housing In Crisis: A Bottom Line Comes Into View” states “the worst housing downturn in memory will stabilize by the end of the year.” Thus far, it appears strapped homeowners on the verge of foreclosure can expect some type of relief program, although the details have not been released.

As Your Trusted Advisor For Life, My Guidance For You Is:
Housing prices have fallen in about 70% of all metro areas, according to one home price index. With low housing prices, low mortgage rates, and first time home buyer tax credits, now is a great time to purchase a home. Speak with a knowledgeable mortgage professional to determine the best program for your clients needs.

On Your Financing Team.
Jeffrey Stanton ITI, CLC, CNE, WOW
Your Personal Mortgage Consultant For Life.
347-466-3047