Monday, September 14, 2009

What Are Interest Rates Going To Do? 9/14/09

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 14, 2009

Presently Market Conditions Are:
Mortgage rates continued to inch lower according to the results of the current Freddie Mac Primary Mortgage Market Survey. The 30-year fixed-rate mortgage (FRM) averaged 5.07 percent with an average 0.7 point for the week ending September 10, 2009, down from last week when it averaged 5.08 percent. Last year at this time, the 30-year FRM averaged 5.93 percent.

My Expectations Are:
While the economic calendar is relatively light this week, look for the monthly inflation reports to carry the most heavily weighted data. The Producer Price Index (PPI) will come out on Tuesday (along with Retail Sales) followed by the Consumer Price Index (CPI) on Wednesday (along with Industrial Production). “Even as the economic data continues to improve, there was still evidence of some concern about the sustainability of the recovery as evidenced by the massive rally in the long end of the U.S. yield curve,” said Eric Lascelles, chief economist and rates strategist at TD Securities Inc. in Toronto.

As Your Trusted Advisor For Life, My Guidance For You Is:
Rates continue to be at historical lows and home prices are incredibly affordable. Now is the opportune time to meet with your mortgage advisor to structure a loan that will meet your financial needs.

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

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