Mortgage Rate Update – Week of November 10, 2008
posted in Mortgages, Smyrna Vinings Real Estate |If you're new here, you may want to subscribe to our eNews and Update Alert feed. Thanks for visiting!
The week in review:
As expected, home loan rates decreased by about .25% on the week. The stock market took a beating on Wednesday and Thursday after the election and money flowed into bonds, a safer investment, and that caused rates to come down.
What to expect:
It is a slow week for economic reporting up until Friday when the retail sale report is released. A poor report will generally lead to lower home loan rates. If you saw last week’s update, you know rates have fluctuated significantly every week for the past six weeks. It would be nice to see the pattern broken and for rates to continue lower.
Breg-ometer:
Next 7 days: Retail sale report will be a stinker. No change to slightly lower
Next 30 to 90 days: Neutral
Courtesy of:
Bob Bregitzer
[where: 30080]
