The Week in Review:
Happy New Year! The week between Christmas and New Years proved to be a volatile one. Although we saw big swings in both directions, interest rates ended the week slightly better than they started for the first time in five weeks.
What to Expect:
Why not start out the first week of the year with some potentially market-moving economic reports? On Tuesday, the Fed releases the minutes of their most recent meeting. The minutes often give hints as to their next move. Then, on Friday, the all-important Jobs Report is out. Most economists feel the job market is the key to economic recovery. If there are many more jobs created than expected, rates will mostly likely continue to climb.
The increasing rate trend is still intact but the positive finish for the year gives us some hope of at least slowing the escalation.
Breg-ometer:
Next 7 Days: Unless the Jobs Report is way above or below expectations, rates should be in the same range
Next 30 Days: Neutral
Next 90 Days: Rates continue move upward
Courtesy of:
Bob Bregitzer
Southeast Mortgage
[where: 30080]