Mortgage Rate Update – Week of September 1, 2008
posted in Mortgages, Smyrna Vinings Real Estate |Welcome back!
Smyrna Vinings Mortgage Rate Update
Week in review:
“To understand is to perceive patterns” said Sir Isaiah Berlin. If you want to understand the current state of mortgage rates, review at the last two weeks. Home loan rates are staying within a tight range. In both weeks, rates went up at the beginning of the week and recovered at the end of the week.
What to expect:
I would expect rates to continue the same pattern this week (or at least stay within the same range). We start the week at the low point in the range and will see a report of inflation at the producer level on Tuesday. Since the market is jittery whenever inflation is mentioned, we could see rates higher by mid-week. Then, I would not be surprised to see rates come back down at the end of the week. Once the market obtains overwhelming strong or weak economic data, the pattern will be broken.
Breg-ometer:
Next 7 days: Following the pattern
Next 30 days: Neutral
Next 90 days: Higher
Courtesy of:
Bob Bregitzer
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