The Week in Review:
Home loan rates ended the week just a hair higher than where they started out. However, the month of May was a great month if you were hoping for rates to go down.
What to Expect:
News from around the globe will once again drive the markets. Recently, credit rating services have been downgrading foreign debt (indicating it has become a riskier investment). This is helping home loan rates remain low as the US is still viewed as one of the safest investments.
The most important scheduled economic report this week will be Friday’s Jobs Report. Early estimates are the possibly 500,000 jobs were created. Such a large increase in jobs is a positive sign and would usually indicate rates would rise. This week it could be overshadowed by other news events
Breg-ometer:
Next 7 Days: Rates could move a bit lower
Next 30 Days: What will happen overseas? A move lower possible
Next 90 Days: Neutral
Courtesy of:
Bob Bregitzer
Southeast Mortgage
[where: 30339]