Market Overview, Mortgage News, Weekly Mortgage Market Preview

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

March 21, 2011 by · Leave a Comment 

Ghadaffi It's Time to Go by Sky NewsThe soap opera that is called humanity continued to unwind this past weekend as the United Nations took aggressive action toward Libya and their leader Muammar Gaddafi. This is one episode that will continue to hold the world’s attention.

Japan’s problems with their nuclear reactors remain but the latest reports imply some progress on a couple of reactors while a another reactor is weakening. Treasuries and mortgage rates are likely to stay within a tight range as long as there is no change in the situations in Japan and in the Middle East.

The stock market, after the strong selling on panic moves is likely to rebound and recover most of the losses on the indexes as evidence of this mornings opening bell. Gold and crude oil are likely to increase in price after a volatile last week. Through the week as investors return to equity markets the bond and mortgage markets will see prices fall and yields increase.

Existing Home Sales and New Home Sales are the main focus on the home front of this weeks economic reports but unlikely to show any change in the trend of weak sales that has been the situation for two years.

The week is very likely to be volatile from day to day. Interest rates are not likely to fall much while the wider perspective is still bearish as the US economy improves and the European Central Bank likely to raise rates.

Mortgage bonds have continued to rally as of late to benefit those in the home loan process. That said, mortgage rates are still temporarily tied directly to stock market direction and global turmoil. The calendar this week has the following key economic reports:

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

This is What’s News for Mortgage Rates This Week: March 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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