The Week in Review:
Home mortgage rates ticked lower last week as the Fed announced they were lowering the forecast for the 2011 Gross Domestic Product and admitted the economic recovery was coming along slower than anticipated.
What to Expect:
The upcoming week is another busy one for scheduled economic reports. We’ll get reports on inflation, consumer confidence, manufacturing and jobless claims. Each report will be important.
We also have Treasury auctions this week. The auctions can have a significant bearing on the markets that drive interest rates. If the auctions are not well received, interest rates could go up.
Breg-ometer:
Next 7 Days: Lock early in the week
Next 30 to 90 days: While there is short-term volatility, home loan rates still have a chance to move down from here
Courtesy of:
Bob Bregitzer
Southeast Mortgage
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