The Week in Review:

Mortgage interest rates moved higher by about .25% by mid-week but turned right around and moved back down by Friday. On the week, home loan rates were basically unchanged.

What to Expect:

Will there be new developments this week in Europe? There was some positive news and some negative news last week and the markets moved accordingly. At the beginning of this week, a more pessimistic tone was coming from overseas. Fear of default by countries such as Greece will cause money to flow to the U.S. and help bring mortgage rates down.

The other event that could be a big mover is Friday’s Jobs Report. Employment is the key to recovery and a poor report would help home loan rates stay low.

Breg-ometer:

Next 7 Days: Too choppy not to lock-in short-term transactions
Next 30 to 90 Days: Still could see rates lower

Courtesy of:

Bob Bregitzer
Southeast Mortgage

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