The week in Review:
The markets had a good shake up last week when it was announced that Goldman Sachs was being sued by the SEC with allegations of fraud. The uncertainty in the market helped home loan rates decrease about .125% on the week.
What to Expect:
As the Goldman Sachs story continues to unfold this week, we’ll see a group of economic reports being released. Both the Producer Price Index and the Initial Jobless Claims Reports are due out on Thursday. Each is important as the PPI is an indication of inflationary factors and the IJC gives information about to the stabilization of the job market.
Poor economic news generally translates into lower interest rates.
Breg-ometer:
Next 7 to 30 Days: Volatility continues; Expect frequent changes in rates
Next 90 Days: Rates moving upwards
Courtesy of:
Bob Bregitzer
Southeast Mortgage
[where: 30339]