Monday, March 30, 2009

What Are Interest Rates Going To Do? 3/30/09

Dear Realtor 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, March 30, 2009

Presently Market Conditions Are:
“Mortgage rates fell sharply to low levels not seen in six decades following the Federal Reserve’s announcement on the Treasury bond and mortgage-backed securities purchase programs.” said Orawin Velz, Associate Vice President of Economic Forecasting for the Mortgage Bankers Association. Mortgages and corporate securities are outperforming Treasuries for the first time since June and before the downfall of Lehman Brothers. According to, these are the lowest rates since the Eisenhower administration!

My Expectations Are:
Look for spreads to move as institutional investor’s direct money away from Treasuries. “We don’t think Treasuries are very thrilling,” said Barr Segal, a managing director at Los Angeles-based TCW Group Inc., which holds $90 billion in fixed-income assets. This may help the Fed as it fights the “credit market dysfunction” that currently hampers efforts to stimulate the economy. Economic news data this week will include Consumer Confidence, Construction Spending & Factory Orders with close attention to Wednesday’s Pending Home Sales and Friday’s Non-Farm Payroll reports.

As Your Trusted Advisor For Life, My Guidance For You Is:
If you are considering a refinance of your current mortgage or in position to purchase a home, talk to your mortgage professional. The housing market has shown some signs it is rebounding and rates are at all time lows. Don’t pass up this opportunity, find the mortgage solution to meet your financial needs today.

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

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