Bob Bregitzer with Southeast Mortgage is back to provide a weekly update on mortgage rates for our Smyrna Vinings homebuyers
The Week in Review:
. Home loan rates decreased slightly during the week partly due to the Department of labor’s Job Report that showed 20,000 jobs were lost in January.
What to expect:
It will be a quite week for economic reports. The most meaningful report is the Retail Sales report which is expected to show a small increase in consumer spending activity.
While rates have decreased the past couple of weeks, don’t ignore “the elephant in the room”. The Fed purchased $12 billion in Mortgage-Backed Securities last week to help bring those rates down. The purchase program goes away in March. Without the stimulus provided by this program, rates are susceptible to moving higher.
Breg-ometer:
Next 7 Days: Same range
Next 30 Days: Same range
Next 90 Days; Rates moving higher
Courtesy of:
Bob Bregitzer
Southeast Mortgage
Comments(1)