The Week in Review:
Mortgage interest rates were unchanged last week.
What to Expect:
The big event of the week will be Friday’s Jobs Report. Employment numbers have been showing improvement for several months in a row. Will the trend continue? If so, home loan interest rates could move upward.
European economic concerns continue to be headline news at the beginning of this week. The 17 nation European economy shrank in the 4th quarter of 2011 and China just revised its future growth estimates lower. While Greece appears to have captured its debt bailout, many are stating that the Country will still default on its debt. These issues may help mortgage rates improve at the beginning of the week.
Breg-ometer:
Next 30 Days: Lock loans in too much uncertainty
Next 30+ Days: Neutral. Appears rates will continue to bounce within the same range we have seen the past month.
Courtesy of:
Bob Bregitzer
Southeast Mortgage
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