The Week in Review:
Mortgage interest rates inched up last week as better than expected economic news came from the housing, manufacturing and labor sectors. On the week home loan rates moved up about .125%.
What to Expect:
The trend the past few weeks have been a strengthening stock market and a weakening bond (including mortgage bond) market. With only a few scheduled economic reports in this holiday-shortened week, the markets may continue with the recent trend.
The big news this week could be whether Greece can actually secure a bailout. If it can be secured, the stock market may continue the rise putting pressure on bonds and bringing mortgage interest rates higher.
Breg-ometer:
Next 30 Days: Lock loans
Next 30+ Days: Neutral
Courtesy of:
Bob Bregitzer
Southeast Mortgage
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