Loan Rate Predictions for Week of : March 15, 2010
Loan Rates lost a bit of ground last week. There wasn’t much economic news on tap and rebalancing of portfolios pushed mortgage rates somewhat higher for the first time this month.
FHA and Conventional mortgage rates went up, but they’re still better than predicted. Check mid-week Chicago mortgage loan rates
Loan rates are sitting at or below 5% for most loan programs and could easily soar up.
Loan Rate Forecasts for This Week: March 15, 2010
We’ll get an answer this week. The economic data keeps rolling all week:
* Monday : Industrial Production and Home Builder Index
* Tuesday : Housing Starts and Building Permits
* Wednesday: Consumer Confidence
* Thursday : Producer Price Index and Initial Jobless Claims
* Friday : Consumer Price Index and Continuing Jobless Claims
Oh, and if that won’t make it volatile enough, the Fed meets for a scheduled, 1-day event Tuesday.
We’re not planning on any changes in the Fed Funds Rate, but that doesn’t mean that interest rates can’t change. The post-meeting press release will be combed over and the markets will react. Today the markets are relatively flat as everyone is waiting for the release to make any big moves.
No change would be great for mortgage rates if they could hold at today’s levels. If it gets volatile, interest rates can easily jump so much higher, but would need a landslide of bad economic news to drive lower.
As the week unfolds, we’ll check back on the interest rate predictions
Guest article from Chicago Mortgage Brokers
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