The Week in Review:
After an approximate 1% upswing in home loan rates over the past couple of weeks, interest rates stabilized and dropped about .125% by weeks end. Will they continue to drop?
What to Expect:
It’s an important holiday-shortened week for bond and mortgage markets. Fed Chairman Bernanke has targeted unemployment as one of the key factors in determining when to stop providing stimulus to the economy. So, Friday’s Jobs Report has a chance to be a big market-mover. Will the report light up the night sky with brilliant colors and an earth-shattering boom or will it be a dud?
If the Job Report shows continued improvement in the labor market, mortgage interest rates could keep moving up the ladder.
Have a great 4th of July.
For transactions closing in:
Next 15 Days: Lock
Next 30+ Days: Lock. The risk is too high to float.
Courtesy of:
Bob Bregitzer
Southeast Mortgage
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