The Week in Review:
In a holiday shortened week, mortgage interest rates ended the week pretty much unchanged.
What to Expect:
For the first time in a while, the markets will be focused on domestic issues.
Reports indicate that Black Friday and weekend sales were a success for the retail sector. As a result, the stock market should like the news and expected to move upward. This would cause bonds to come down and mortgage rates to increase. We don’t expect the markets to get too carried away with the news though because the bigger question is: Can it continue throughout the season?
Friday’s Jobs report has the most potential to move the markets. If the jobs report comes in worse than expectations, home loan rates could move lower.
Breg-ometer:
Next 7 – 15 Days: Lock in short-term transactions
Next 30+ Days: Rates can still come down but we feel the downside side is limited.
Courtesy of:
Bob Bregitzer
Southeast Mortgage
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