Latest From : Atlanta RE 5 by 5 |
| What's Ahead For Mortgage Rates This Week : May 24, 2010 Posted: 24 May 2010 07:45 AM PDT
Mortgage markets improved again last week on worsening news out of Greece and the Eurozone. Then, as contagion mentality set in, U.S. mortgage bonds gained and mortgage rates fell. It's the 4th straight week in which conforming mortgage rates improved and, against the expectations of experts everywhere, it's now late-May and mortgage rates are as low as they've been all year. If you're a homeowner and haven't looked at refinancing lately, it may be a good time to call your loan officer to hear your options. Especially because low rates can't last forever. The European market concerns are likely overblown and the U.S. economy continues to expand at a measured pace. This week, housing and inflation data takes center stage.
Each of these data points has the power to move mortgage rates -- especially because trading volume is expected to thin as the 3-day weekend nears. As volume drops on Wall Street, it will be harder to match buyers and sellers and, as a result, mortgage pricing will get (more) erratic. Rates should be most stable at the start of the week. It may be the best time to lock a rate. |
Another week, same old story. | You are subscribed to email updates from Atlanta Real Estate -- Peter Bright, Mortgage Blogger To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
No comments:
Post a Comment