The Federal open market committee or FOMC will meet on Tuesday and Wednesday of this week. This is the first of eight of such meetings for 2011.
Even though the industry feels that the FOMC will not move to raise interest rates overall, mortgage rates may be impacted by what the FOMC decides.
Two troubling things for mortgage rates is that as of December 2010 there was a drop in the over all housing inventory and employmentnumbers were better. These are signs that housing is beginning stabilize.
This all brings fears that mortgage rates may slowly tick up, as they have since November.
The State of the Union speech is also this week. The mortgage industry isn't anticipating any change in policy from the executive branch either.
I keep hoping for Federal assistance of some sort to help boost the housing industry. Housing was a large part of the economic down-turn, it needs to become part of the economic recovery.