The week in Review:
It was finally a good week for mortgage rates. After a 10 day stretch of increasing rates through February 10th, interest rates were able to regain some ground. On the week, rates improved about .125%.
What to Expect:
We talked about the recent rate increases last week and said home loan rates were prime for a reversal. We feel interest rates have a good chance of continuing to improve.
With that said, we have a number of reports that could temper any improvement. This holiday-shortened week we see a number of scheduled reports including the Consumer Confidence, Jobless Claims and Gross Domestic Product. A week of good economic reports could stop any decrease in interest rates.
Rates will continue to climb during 2011. However, we may have a short-term opportunity to see rates a bit lower. Take advantage while you can.
Breg-ometer:
Next 7 Days: Rate decrease possible
Next 30 Days: Neutral
Next 90 Days: Rates up
Courtesy of:
Bob Bregitzer
Southeast Mortgage
[where: 30080]