Big Week Ahead for Mortgage Rates
Well, we had a bit of a dip in mortgage rates the last few days of the week. Finally! Inflation had been the major culprit driving rates up over the past couple weeks, but it appears that investors are sliding to the side of safety in the bond market, facing steep declines in the stock market. The mortgage spread is still quite high and not budging, so we'll have to count on investor's perceived risk in the overall economy to keep mortgage rates down.
Shorter term mortgage rates are catching up to the standard 30-Year Fixed mortgage rates, as the impending potential Fed rate increases loom heavily on the market. Short term money may be getting more expensive in the near future, so make sure to check on all loan term options when receiving a rate quote, if you are looking at any other term alternative than a 30-Year Fixed rate mortgage.
The week ahead should be a crazy ride for mortgage rates with a slew of major economic reports coming out. Consumer confidence, durable orders, new home sales, FOMC statement, GDP, existing home sales, and PCE core inflation are all on slate for this week. The Fed is not expected to move rates, but thier statement could have a significant impact on market movement.
We still need to see some positive numbers from the housing market and credit markets to breathe some life into market sentiment. Until we come to a stabilzation in both areas, we will continue to experience high mortgage spreads and a lackluster investor involvement in the mortgage market, and higher mortgage rates.
Mortgage rates are still very good, but the current economic environment and inflation worries could change that in short order.
May the Mortgage Rates be with You!
Refinance Tool Box
Shorter term mortgage rates are catching up to the standard 30-Year Fixed mortgage rates, as the impending potential Fed rate increases loom heavily on the market. Short term money may be getting more expensive in the near future, so make sure to check on all loan term options when receiving a rate quote, if you are looking at any other term alternative than a 30-Year Fixed rate mortgage.
The week ahead should be a crazy ride for mortgage rates with a slew of major economic reports coming out. Consumer confidence, durable orders, new home sales, FOMC statement, GDP, existing home sales, and PCE core inflation are all on slate for this week. The Fed is not expected to move rates, but thier statement could have a significant impact on market movement.
We still need to see some positive numbers from the housing market and credit markets to breathe some life into market sentiment. Until we come to a stabilzation in both areas, we will continue to experience high mortgage spreads and a lackluster investor involvement in the mortgage market, and higher mortgage rates.
Mortgage rates are still very good, but the current economic environment and inflation worries could change that in short order.
May the Mortgage Rates be with You!
Refinance Tool Box
posted by Jim Bisnett at
7:51 AM
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