The week in review:
Last week we received two different reports showing inflation was potentially starting to heat up. When inflation is rising, you can expect home loan rates to be rising as well. Last week we saw home loan rates increase by approximately .25%.
What to expect:
It’s a quiet week for scheduled economic reports, but that does not mean we won’t see market volatility. Ben Bernanke, Federal Reserve Chairman, will be providing testimony on Tuesday about the economy. His comments could spark the market to move in either direction. Also, we are in the middle of earnings season for 2nd quarter results. If companies report good earnings and forecasts, we could see rates continue the upward trend.
Breg-ometer:
Next 7 days: Expect volatility with no change to slight improvement in rates
Next 30 days: We expect to be in the same range the next month
Next 90 days: Neutral
Courtesy of:
Bob Bregitzer
[where: 30080]