Market Overview, Mortgage News, Weekly Mortgage Market Preview

What’s News for Mortgage Rates This Week: February 21st

February 21, 2011 by · Leave a Comment 

Presidents Day 2011 by James BarathAll markets were closed today in honor of President’s Day.

The economy based on recent data continues to improve with the exception of employment and housing. Inflation concerns are slowly mounting as global inflation ticks higher. No inflation in the US so far but investors in long term treasuries and other fixed income investments are not likely to sit and wait for confirmation which is a major pressure on long term interest rates.

Both the improving economy and inflation concerns however are being overlooked to some extent with increasing violence and protests spreading across the Mideast. After Tunisia and Egypt overthrew their rulers people in most of the region are taking to the streets. Safety moves into US treasuries are countering inflation worries and strengthening economic data points.

Technically, the bond market continue to be bearish, however the patterns are less so now than a week ago. The near term outlook for mortgage rates has shifted to solid bearish reads to more neutral patterns.

The calendar this week has the following key economic reports: February Consumer Confidence, Case-Shiller Home Price Index, FHFA Housing Price Index, January Existing Home Sales and New Home Sales, January Durable Goods Orders, 4th Quarter Preliminary GDP and February Univ. of Michigan Consumer Sentiment. Let’s not forget the Weekly Jobless Claims and the $99 Billions of Treasuries being auctioned off as well.

Key Economic Reports for Week of February 21st by James Barath

This is What’s News for Mortgage Rates This Week: February 21st.

Quick general rule of thumb when keeping an eye on mortgage rates.

Strong Economic News: $$$ from Bonds —> Stocks = Home Loan Rates Worsen

Weak Economic News: $$$ from Stocks —> Bonds = Home Loan Rates Improve

If you or someone you know is thinking about buying a home, the combination of low home loan rates and affordable home prices make this an ideal time to buy a home. Want to know if you can afford a new home? Call or text me at 512-522-7284 to discuss your personal situation and your home loan options!

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James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

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