The Week in Review:
After increasing for the previous couple of weeks, home mortgage interest rates declined last week. Lackluster economic reports and comments from Janet Yellen caused mortgage rates to drop by approximately .125% on the week.
What to Expect:
This week is packed with economic reports which pull the market either direction. We will get a speech by at least one Fed member each day this week. The market will search for clues about when the Fed may temper its’ bond purchase program. In addition, the minutes of the October Fed meeting are released Wednesday.
Overall, we are in an increasing rate environment. When rates do tick down, it is wise to lock in loans.
For transactions closing in:
Next 30 Days: Lock
Next 30+ Days: Lock
Courtesy of:
Bob Bregitzer
Southeast Mortgage
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