Mortgage Rate Update – Week of May 4, 2009
posted in Mortgages, Smyrna Vinings Real Estate |Welcome back!
The Week in Review:
Last week, the Fed signaled that the recession may be easing. There were also several other voices in the news, including Warren Buffett, sharing the same message. Good economic news generally causes interest rates to rise and that happened last week. Home loan rates rose by about .25%.
What to Expect:
The big news of the week will come on Friday with April’s Job Report. With the economy improving, we may see an improvement in the job data. If we do, it could cause rates to increase more.
There are reports that the Fed will be a little more aggressive with the purchasing of mortgage-backed securities and treasuries. If so, rates may stay in the same range.
Breg-ometer:
Next 7 days: Slight improvement from the end of last week
Next 30 days: The Fed should keep us in the same range
Next 90 days: Increase in rates possible
Courtesy of:
Bob Bregitzer
No related posts.
