Loan Rate Predictions for Week of : March 15, 2010
Interest Rates lost a bit of ground a week ago. There wasn’t much economic news on the plate and rebalancing of portfolios pushed mortgage rates slightly higher for the first time this month.
Conventional and FHA loan rates went up, but they’re still better than predicted. Check mid-week FHA vs Conventional rates
Home loan rates are sitting at or below 5% for most loan programs and could easily jump higher
Interest Rate Predictions for Week of : March 15, 2010
We’ll get an answer this week. The news keeps rolling through the week:
* Monday : Industrial Production and Home Builder Index
* Tuesday : Housing Starts and Building Permits
* Wednesday: Consumer Confidence
* Thursday : Producer Price Index and Initial Jobless Claims
* Friday : Consumer Price Index and Continuing Jobless Claims
Oh, and if that won’t make it volatile enough, the Fed meets for a scheduled, 1-day event Tuesday.
We’re not planning on any changes in the Fed Funds Rate, but that doesn’t mean that mortgage rates won’t change. The post-meeting press release will be scrutinized and the markets will react. Today the markets are relatively flat as everyone is waiting for the release to make any big moves.
No change would be great for mortgage rates if they could hold at today’s levels. If it gets volatile, rates have so much room to go higher and very little room to go lower.
As the week unfolds, we’ll check back on the mortgage rate predictions
Guest article from Chicago Mortgage Brokers
http://www.civilservicestrollers.co.uk
