Atlanta Mortgage Rate Update – Week of August 10, 2009
posted in Mortgages, Smyrna Vinings Real Estate |The week in review:
Last week we received plenty of good news about the starting of an economic recovery. The National Association of Realtors reported that pending home sales rose in June for the fifth straight month. Also, the Labor Department reported that fewer jobs were lost in July than expected. Since good economic news is generally bad for home loan rates, we saw interest rates increase by about .25%.
What to Expect:
The week ahead is full of information for the markets to digest. Scheduled for release are the Retail Sale Report, an indication of whether consumers are spending money, and the Consumer Price Index, a gauge of inflation. Either of these reports could cause moves in the markets. Also, the Treasury is auctioning off $75 Billion worth of 3-year and 10-year Notes starting on Tuesday. The results of these auctions could cause volatility as well.
Breg-ometer:
Next 7 days: Expect possible daily changes to rates; No significant net change for the week
Next 30 days: Volatility expected but staying in the same general range
Next 90 days: Neutral – Has the economic recovery really begun?
Courtesy of:
Bob Bregitzer
[where: 30080]
