The Week in Review:
Last week was a quiet week for economic news and as a result rates ended the week where they began.
What to Expect:
This week will be different as economic reports flood the headlines toward the end of the week. Starting it off on Wednesday is the Retail Sales report. Then, Thursday and Friday we have a number of reports of manufacturing and inflation. Two of the most important will be the Producer and Consumer Price Indices.
Also, we’ll have more news coming from overseas and US Corporations will be reporting 2nd quarter earning all week.
Home loan rates have been moving lower since the end of April, but history tells us a reversal is in store, it’s just a matter of when. Could this be a market moving week?
Breg-ometer:
Next 7 Days: Economic data could cause rates to move higher
Next 30 Days to 90 Days: Rates have been temporarily stopped at all time lows. Additional poor economic news could pull rates lower. Without additional poor news, we expect rates to tick up.
Courtesy of:
Bob Bregitzer
Southeast Mortgage
[where: 30080]