Market Overview, Mortgage News, Weekly Mortgage Market Preview

What’s News for Mortgage Rates This Week: March 7th

March 7, 2011 by · Leave a Comment 

NCAA Men's Basketball March Madness

This past weekend was the start of the race to NCAA Men’s Basketball March Madness. When it comes to the home loan process, let my team help you get through the mortgage madness by educating you about the key economic reports and economic releases that will drive mortgage rates for the week ahead.

The February Employment Report last Friday added increased belief the economic recovery is improving. Technically, the 10 yr note has not been able to move below 3.40% and mortgage bonds are finding strong resistance at last week’s best prices.

There is not much in the way of key economic releases this week. Monday’s February Consumer Confidence and Friday’s February Retail Sales are about all there is except for the Weekly Jobless Claims. The week also includes the Treasury selling $66B of note and bonds beginning on Tuesday and ending Thursday.

The bond markets are no longer tied to safety moves form issues developing in the Mideast or Libya. Crude oil is going to continue to increase but unlikely will have the impact as it has over the previous three weeks.

Overall the path for mortgage rates remains up, the road however will be choppy. We suggest that you use any rallies to lock in your home loan rate. The calendar this week has the following key economic reports:

Key Economic Reports for Week of March 7th by James Barath

This is What’s News for Mortgage Rates This Week: March 7th.

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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