Monday, September 21, 2009

What Are Interest Rates Going To Do? 9/21/09

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 21, 2009

Presently Market Conditions Are:
Rates dipped slightly last week. According to a survey of national lenders the 30 year fixed rate mortgage fell 2 basis points to 5.38%. The results of the Freddie Mac Primary Mortgage Market Survey have the 30 yr ending the week at 5.04% with .7% point.

My Expectations Are:
The economic calendar is light this week with Treasury auctions Monday through Wednesday. Jobless claims will be posted Thursday along with Existing Home Sales followed by New Home Sales and Durable Goods Orders on Friday. “Interest rates for fixed-rate mortgages eased for the third consecutive week and remained at 3-month lows,” said Frank Nothaft, Freddie Mac vice president and chief economist. “Interest rates for 30-year fixed-rate mortgages have averaged just above 5 percent through mid-September, which is roughly a percentage point below last year’s average and suggests that 2009 may reach a record annual low since the survey began in 1971.”

As Your Trusted Advisor For Life, My Guidance For You Is:
Now is the time to take advantage of low rates and affordable housing. Meet with your mortgage advisor today to structure a loan to meet your financial needs.

On Your Financing Team
Jeffrey Stanton ITI, CLC, CNE, WOW
Your Personal Mortgage Consultant For Life.
347-466-3047

Posted by Jeffrey S. Stanton, ITI, CLC, CRLS, CHCLS, WOW at 11:18 AM

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