The Week in Review:
After moving downward for a couple of weeks, mortgage interest rates began the climb upward once again last week. Rates ended close to .125% higher.
What to Expect:
This is a monster week with two market-moving events on the agenda. First, the monthly Fed meeting and interest rate decision could set the tone for near-term interest rate movement. Second, and equally important, is Friday’s Jobs Report where we obtain a reading on the state of employment. The Fed made employment one of their main factors in determining when to scale back QE initiatives.
There is no rational reason to float rates into these events. Lock in when you can.
For transactions closing in:
Next 15 Days: Lock
Next 30+ Days: Lock
Courtesy of:
Bob Bregitzer
Southeast Mortgage
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