The week in review:
Home loan rates ended the week only slightly higher than they began.
What to expect:
This week brings us a few very important announcements that could have a significant impact on the financial markets. A technical accounting rule called “mark-to-market” may be modified on Thursday. To find out more about this rule, see this article from Motley Fools. Many feel the rule makes the financial crisis even worse. If changed, it may cause the stock market to rally which could cause home loan rates to rise.
On Friday, the Labor Department releases their Jobs Report. A week report helps interest rates stay low.
Our advice to clients this week is to lock-in by Wednesday if you have a transaction in process. The end of the week could be interesting.
Breg-ometer:
Next 7 days: Rates are at all time lows. Lock-in.
Next 30 to 90 days: Expect rates to be in the same range
[where: 30080]