The Week in Review:
Several good news items hit the wires last week putting pressure on home mortgage interest rates. The unemployment rate surprisingly dropped and foreclosure activity declined to a five year low.
What to Expect:
It’s a big week for economic news. One of the most watched items will be Thursday’s announcement of Initial Jobless Claims data. If the new shows lower initial claims, it will support last week’s unemployment rate drop.
We expect rates to move slightly higher in the short-term.
For transactions closing in:
Next 7 to 15 Days: Lock-in now. Inter-day volatility is too high
Next 30 + Days: Rates have a chance to move lower with Fed buying mortgage-backed securities; However, the smart move is to lock these historic rates.
Click here to start your Smyrna Vinings home search.