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Mortgage Market and Rate Watch For Week of August 25th, 2008
What To Watch This Week?
It’s going to be an extremely busy news week. It’s not often that a ‘big’ report comes out each day, but this week is one of those weeks! Besides all of the ‘economic news’ coming out this week, don’t discount what international news can do to the market. Last week’s Georgia and Russia news was a great example of this. If you’re not tuned into this news, feel free to follow me on Twitter. I’m always updating a few times throughout the day.
Besides all of the day to day market activity, there are also a bunch of economic reports coming out. If I had to pick two reports that would likely move the market this week, they would likely be:
- Fed Minutes - Monday - The minutes from the FOMC meeting are released on Monday. This will give traders an opportunity to hear what really happens behind closed doors. This often is a market mover. Look for conversation on the Fed’s stance on inflation and how quickly they plan on taking action on it.
- Core Personal Consumption Expenditures (CPE) - Friday - Not only is the monthly CPE report coming out, but so is the annual (year over year) report. CPE is one of the Fed’s favorite ways to measure inflation. This could be a big market moving report. You can also look into Thursday’s movement in the market to ‘price in’ trader’s opinions on where things will go.
You Can Stay Updated!
I’ll be following things as they happen with live mortgage bond quotes and do what I can to keep everyone informed through Twitter. My clients always get the advice first, so I’ll try to filter though as quickly as I can.
Here’s this week’s economic calendar:
As a Consumer, How Do You Keep Posted on the News?
I’ll do my best to keep you posted throughout the week via Twitter. If you’re interested in finding out more about what effects mortgage rates and which direction they’re headed, feel free to follow me!
Work With Mortgage Professionals In The Advice Business
It’s important to recognize that advice is extremely valuable when looking for a mortgage. The right advice can literally save you thousands of dollars, while the wrong advice can cost you the same. Some mortgage professionals really don’t know what mortgage rates are based on, period. If you want to get the best deal, having a professional that can give you that type of advice is extremely important.
Why Am I Posting A Calendar?
I provide this weekly news update because too often when we’re shopping around, we ask the wrong questions. The first thing you’ve got to have your antenna up on is economic news if you want to have any idea what direction rates are moving.
So You Say, What Are Mortgage Rates Currently?
I get this question all too often. If I’m being fair.. and honest (which is my policy). I would be doing you a huge disservice to just quote a rate.
Truth be told, there are literally 27 different factors that go into a custom rate quote. There are also thousands of programs (constantly changing as well). It’s extremely important that you are educated on what is available and most importantly what is the best mortgage plan for you to personally implement.
It’s natural to have a list of questions. I’d love to help work through them with you and educate you on what you need to know about the mortgage process. I can help with everything from how to pre-qualified to what to do after closing (where I will continue working for you)!
It’s what we do, and it would be my honor to add you to our list of raving fan clients. If you’re currently looking for a mortgage loan or know someone that might have questions about one, please have them contact me. I’d be happy to assist them. It’s literally what I love doing! I promise to take great care.