The Week in Review:

It appears the European summit was successful last week. The holders of Greek debt agreed to reduce the amount they will collect from the troubled country by 50%. The world stock markets liked the news and improved on the week. Mortgage interest rates moved upward as a result by approximately .125%.

What to Expect:

In the early part of this week, those celebrating the European plan started to have a hangover as they remembered a plan has to be executed to be successful.

It will be an interesting week here at home. Look for a highly anticipated Fed announcement Wednesday. Will they discuss expanding or beginning a new stimulus plan? Also, Friday is the Department of Labor’s Jobs Report. Since job creation is the most important element to economic recovery, this report can be a market mover.

Breg-ometer:

Next 30 Days: Lock in transactions; Daily volatility will be significant
Next 30 – 90 Days: Rates still maintain the possibility to come down

Courtesy of:

Bob Bregitzer
Southeast Mortgage

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