Monday, June 29, 2009

What Are Interest Rates Going To Do? 6/29/09

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 29, 2009

Presently Market Conditions Are:
The strong demand in Treasury’s pushed mortgage rates lower last week. “There was fear about central bank selling,” said Jeffry Feigenwinter, head of Treasury trading in New York at primary dealer BNP Paribas Securities. “When they (the Fed) showed up at these auctions, some of those fears were put to rest.”

My Expectations Are:
The holiday shortened week ahead yields several leading economic indicators focusing on the employment report, the ISM manufacturing index and consumer confidence all for the June period. However, the data on the number of jobs (the employment report) and wage inflation will be the most highly anticipated economic data of the month. The Fed will be purchasing more Treasuries in the bond market Wednesday while the Treasury has no major debt auctions scheduled.

As Your Trusted Advisor For Life, My Guidance For You Is:
With rates still hovering at historic lows and housing prices remaining extremely affordable, now is the best time to contact your mortgage professional to arrange financing to meet your specific needs.

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

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