The week in review:
Home loan rates rose last week by about .25%. One big factor was the Consumer Price Index coming in higher than expected, which indicating inflationary pressures.
What to expect:
This week we will get another report on inflation with the Producer Price Index. If the report shows higher inflation than expected, rates could continue the climb. The other report worth noting is the Initial Jobless Claims Report. Less job losses than expected could push mortgage rates higher.
With rates moving up quickly over the last week, if these reports come in without a surprise number, we could see rate tick down just a bit.
Breg-ometer:
Next 7 Days: No real change
Next 30 Days: Pressure is upward
Next 90 Days; Rates up
Courtesy of:
Bob Bregitzer
Southeast Mortgage
[where: 30339]