Monday, September 07, 2009

What Are Interest Rates Going To Do? 9/07/09

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, September 07, 2009

Presently Market Conditions Are:
“Mortgage rates followed bond yields slightly lower last week, with fixed mortgage rates falling to three-month lows.” stated Frank Nothaft, Chief Economist for Freddie Mac. He continued by saying “Low mortgage rates have helped pushed housing affordability to new highs. Seven of the top eight most affordable months occurred during this year, according to the National Association of Realtors'® (NAR) Housing Affordability Index, which dates back to 1971. As a result, pending sales of existing homes rose for the sixth straight month in July, a trend not seen since the NAR began reporting data in 2001. Moreover, July's sales were the strongest since June 2007.”

My Expectations Are:
This will be a light week for economic data with the mortgage markets being closed Monday in honor of Labor Day. Treasury auctions on Tuesday, Wednesday, and Thursday will highlight the week, however, investors will also keep a close watch on the Import Prices and Consumer Sentiment reports which will be released on Friday.

As Your Trusted Advisor For Life, My Guidance For You Is:
With housing prices and mortgage rates remaining affordably low, now is the best time to meet with your mortgage professional to discuss your best financial options.

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

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