Monday, August 10, 2009

What Are Interest Rates Going To Do? 8/10/09

Dear 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, August 10, 2009

Presently Market Conditions Are:
Mortgage rates ended slightly higher last week due to most of the economic data released beating the consensus forecast. This indicates that the economy is improving more quickly than expected. While current inflation levels remain low, faster economic growth generally leads to higher future inflation, which is could negatively impact mortgage rates. However, Freddie Mac’s Chief Economist Frank Nothaft stated that “Homebuyer demand has improved, aided by high levels of housing affordability. The first half of this year contained the top six months with the most affordable housing conditions since the National Association of Realtors® (NAR) began calculating its Housing Affordability Index in January 1971. As a result, pending existing home sales rose for five consecutive months ending in June, a trend not seen since July 2003.”

My Expectations Are:
The Fed meeting on Wednesday will be the highlight on investor’s calendars during this busy week. Investors will also keep a sharp eye on are the Treasury auctions, Consumer Price Index (CPI), Retail Sales and the Industrial Production report which is due out Friday.

As Your Trusted Advisor For Life, My Guidance For You Is:
With housing prices at affordable low and rates hovering at historical lows, now is the best time to meet with you 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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