Monday, January 25, 2010

What Are Interest Rates Going To Do? Week of: 1/25/10

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 25, 2010

Presently Market Conditions Are:
Mortgage rates eased slightly for the third week in a row putting the 30 year fixed rate at 4.99% and .7% discount and the 15 year fixed rate at 4.40% and .6% discount. "Fixed mortgage rates followed bond yields lower for the third consecutive week, pushing 30-year mortgages below 5 percent once more," said Frank Nothaft, Freddie Mac vice president and chief economist. "Similarly, ARM rates eased along with shorter-term rates, as the federal funds futures market indicates no increase in the Federal Reserve's target rate following its upcoming committee meeting on January 26th and 27th.”

My Expectations Are:
A lot of economic is due out this week starting Monday with the Existing Home Sales report followed by Consumer Confidence on Tuesday and New Home Sales on Wednesday. Potential market movers could be on Wednesday with the Fed meeting and the State of the Union address Wednesday night. Durable Goods and Jobless Claims are out on Thursday and the GDP and Consumer Sentiment reports close out the week.

As Your Trusted Advisor For Life, My Guidance For You Is:
Rates continue to hold steady. Now is the time to consider a refinance of your existing home or purchase a home at affordable pricing and rates at near historic lows. Call your mortgage professional today to structure a loan to meet your clients financial needs.

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

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