The Week in Review:
As we expected, mortgage rates increased at the end of the week as thin trading caused increased volatility in the marketplace. On the week, home loan rates were up approximately .125%
What to Expect:
This should be a quiet holiday-shorten week for the markets. There are very few scheduled economic reports and it would be unlikely to hear any major developments out of Europe.
In the big picture, we feel interest rates may start to move upward. Recent domestic economic reports have been painting an improving picture of our economy. This coupled with rising consumer confidence could pave the way toward recovery. I sure didn’t see a lack of cars in the mall parking lots this holiday.
Breg-ometer:
Next 15 Days: Lock-in loans
Next 30+ Days: We feel it’s prudent to take advantage of the market, buy or refinance now
Courtesy of:
Bob Bregitzer
Southeast Mortgage
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