The Week in Review:
It was a good week for home loan rates. Interest rates moderately decreased during the week due to Fed Chairman Ben Bernanke stating that the economy was experiencing temporary sluggishness and long-term inflation was subdued. Rates ended the week down almost .125%.
What to Expect:
Interest rates are approaching the best levels of the year. So, what is next?
Improving the job market is the key to the economic turn around. On Friday, the Department of Labor’s Jobs Report is scheduled for release. The report will let us know if job market is improving. A report that shows more jobs are being created would likely stop rates from going lower. On the other hand, a poor report could help rates stay low or continue to decrease.
Breg-ometer:
Next 7 Days: Friday is the big day. With rates down, you can’t go wrong locking in.
Next 30 Days: Neutral
Next 90 Days: Neutral
Courtesy of:
Bob Bregitzer
Southeast Mortgage