Monday, February 22, 2010

What Are Interest Rates Going To Do? Week of: 2/22/10

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, February 22, 2010

Presently Market Conditions Are:
“Mortgage rates eased for the second week, while economic data releases suggest that the housing market may be in a slow state of recovery.” stated Frank Nothaft, chief economist for Freddie Mac. He continued by saying “The National Association of Realtors® (NAR) reported that existing home sales rose in 48 states and the District of Columbia between the third and fourth quarters of 2009; 32 states experienced double-digit growth. In addition, 67 metropolitan areas saw positive annual house price growth in the fourth quarter; more than double that in the third quarter, according to the NAR.” “New home construction is also slowly improving. One-family housing starts rose to an annual pace of 484,000 homes in January, which is up almost 36 percent from January 2009, based on the U.S. Census figures. Moreover, homebuilder assessments of market conditions over the first half of 2010 improved in February, according to National Association of Homebuilders/Wells Fargo Housing Market Index.”

My Expectations Are:
The economic week will start slowly and end with a flurry of activity. It all starts on Wednesday with New Home Sales along with Fed Chief Ben Bernanke’s speech; Thursday is the release of the Durable Good Orders; Friday closes out the economic calendar with the Existing Home Sales, Preliminary GDP, Chicago PMI manufacturing index, consumer Sentiment and finally the Consumer Confidence report.

As Your Trusted Advisor For Life, My Guidance For You Is:
With the housing market slowly rebounding and rates holding low, now is the best time to meet with your mortgage professional to discuss a mortgage solution to meet your financial goals.

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

Posted by Jeffrey S. Stanton, ITI, CLC, CRLS, CHCLS, WOW at 4:15 PM

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