Monday, January 04, 2010

What Are Interest Rates Going To Do? Week of: Monday, January 04, 2010

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, January 04, 2010

Presently Market Conditions Are:
“Long-term mortgage rates rose for the fourth week in a row but still remain low by historical standards” stated Frank Nothaft, chief economist for Freddie Mac. He continued by saying “As the last survey of 2009, this marks a time to look back over the last decade. Based on today's median loan amount of $138,000, monthly principal and interest payments for a 30-year fixed-rate mortgage are close to one-third less than a decade ago when rates peaked at 8.6 percent in May 2000. This translates into almost 50 percent less in interest payments over the full 30-year term.”

My Expectations Are:
Friday’s Employment report will highlight a fairly busy economic week. Other reports investors will be keeping a keen eye on are the ISM manufacturing index, which will be released on Monday; Pending Home Sales will come out on Tuesday; ISM Services and the minutes from the December 16 Fed meeting will be released on Wednesday; and finally, Construction Spending, Factory Orders and the Treasury announcement of the size of upcoming auctions on Thursday.

As Your Trusted Advisor For Life, My Guidance For You Is:
With rates hovering at historical lows and housing prices remaining extremely affordable, now is the best time to meet with a mortgage professional to discuss a mortgage solution to meet your clients financial goals.

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

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