Monday, June 15, 2009

What Are Interest Rates Going To Do? 6/15/09

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, June 15, 2009

Presently Market Conditions Are:
Rates continue to rise and are now at the level seen last November. Higher rates have reduced the number of homeowners who were seeking to refinance their mortgages; however the affect on the recovering purchase market has not been determined.

My Expectations Are:
The purchase of treasuries and mortgage bonds aside, the Fed’s influence on rates has decreased over recent weeks. Jeffrey Lacker, Richmond Fed President, said this week that he doesn’t see the need to increase purchases and this will be debated at the upcoming June 23 & 24 policy meeting. Economic announcements due this week include Housing Starts, Producer Price Index, Consumer Price Index and Jobless Claims.

As Your Trusted Advisor For Life, My Guidance For You Is
The housing market continues to be favorable and rates remain attractive. Now is the time to consult your mortgage professional to discuss financing solutions to meet your needs.

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

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Jeffrey S Stanton
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