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What’s News for Mortgage Rates This Week: May 9th

Dianetics The Modern Science of Mental Health by L Ron HubbardToday marks the 61st Anniversary for the Church of Scientology which was given birth from the book “Dianetics: The Modern Science of Mental Health” by L. Ron Hubbard. Whether or not you believe that there are some metaphysical influence on your happiness there is one thing for certain. The state of economy has definitely impacted our perception and there is no better gauge than consumer sentiment that will be reported on Friday.

The overall health of the economy has been hit and miss depending on which companies and which industry you follow. The one thing that impacts everyone is inflation. Both the Producer Price Index and the Consumer Price Index for April will be released on Thursday. It is expected that inflation will come in less than the prior months.

The real estate industry is under duress once again as evident signs of a double dip in national home prices made headlines this morning. Although the major metropolitan areas have seen a second dose of falling home prices following the cold winter months and life after the homebuyer tax credit, our local markets in Northwest Indiana have corresponding and contradicting home sales data.

Mortgage bonds are technically at their best levels of 2011 and hitting strong resistance. Even so, mortgage rates have not improved as much due to the FED Loan Originator Compensation Rule that went into affect April 19th. The calendar this week has the following key economic reports:

Key Economic Reports for Week of May 9th by James Barath

This is What’s News for Mortgage Rates This Week: May 9th.

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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