Monday, January 11, 2010

What Are Interest Rates Going To Do? Week of: 1/11/10

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 11, 2010

Presently Market Conditions Are:
Mortgage rates eased slightly after five weeks of increases. The 30 year fixed rate ended the week at 5.09 with .7% discount down from the previous week’s price of 5.14. The 15 year ended the week at 4.50 with .7% down from 4.54. "Mortgage rates eased slightly this week after rising consecutively through December," said Frank Nothaft, Freddie Mac vice president and chief economist. "Current interest rates for fixed-rate mortgages are just about at their annual average for 2009, while ARM rates are considerably below their averages for last year.”

My Expectations Are:
The Feds plan is to top off its mortgage purchases by the end of March, and will at that time decide whether the economy is strong enough to stick with that plan. "I think the economy is starting its recovery, and there's reason to be optimistic," Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, said Thursday. On the Economic Calendar this week, Treasury auctions will run through Thursday when the Retail Sales Report will come out along with Jobless Claims. Closely watched will be Friday’s Consumer Price Index, Industrial Production and finally the Consumer Sentiment Report.

As Your Trusted Advisor For Life, My Guidance For You Is:
Mortgages are holding at incredibly attractive rates and housing continues to be extremely affordable. Now is the time to meet with your financial professional to structure a mortgage to meet your clients needs.

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

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Jeffrey S Stanton
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