The Week in Review:
After hitting the highest levels in a year, interest rates have come back down for a second week in a row. The improvement in rates can largely be attributable to the escalating conflict in the Middle East. Home loan rates came down about .125% during the week.
What to Expect:
While the decrease in rates is good news for home buyers and those looking to refinance, we believe the improvement could be short-lived. It is anyone’s guess how long the political unrest will continue overseas but the decline in rates could reverse at any time.
We have a big week of scheduled economic releases ahead. The week starts with reports on inflation and ends with the Department of Labor’s Jobs Report. Our suggestion is to lock-in the recent decline in rates if you have a transaction in process.
Breg-ometer:
Next 7 Days: Increase from current levels possible
Next 30 Days: Fluctuating
Next 90 Days: Rates up
Courtesy of:
Bob Bregitzer
Southeast Mortgage
[where: 30339]