The Week in Review:
The Fed announced last week in its scheduled meeting that economic conditions are improving, but at a slow rate. Interest rates over the last few weeks have moved up and down in a volatile manner depending on the economic reports and news stories of the day. However, no clear direction has been established. On the week, home loan rates ended unchanged.
What to Expect:
It’s a big week for economic releases. We’ll get a read on inflation and the manufacturing sector in the first couple of days. Then, we end the week with the Labor Department’s Jobs Report. Since most feel the key to economic recovery is tied to reducing unemployment, this will be an important report to watch.
We also have one other wild card to consider. The markets will continue to watch the political uproar in Egypt. There are many ways in which changes in Egypt could affect US economics. Since US exports account for 10% of Egypt’s imports, a change of power could hurt our recovery.
Breg-ometer:
Next 7 Days: Daily movement; no significant change expected
Next 30 Days: Neutral
Next 90 Days: Rates mostly likely higher
Courtesy of:
Bob Bregitzer
Southeast Mortgage
[where: 30080]