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What’s News for Mortgage Rates This Week: June 27th

June 27, 2011 by · Leave a Comment 

2011 Ugliest Dog Contest Winner by Noah Berger, APYou’ve heard of the dog days of summer, but have you ever heard of the World’s Ugliest Dog Contest? Yoda, a 14-year-old mixed Chinese Crested Chihuahua, was the chosen winner of the 23rd annual event over the weekend.

This brings new meaning to the child hood taunt. U-G-L-Y you don’t have no alibi…you’re UGLY. This could also be said of the economic recovery or lack thereof. 

Speaking of ugly, some analysts and traders are forecasting just that when it comes to the bond market as Quantitative Easing 2 officially comes to an end this Thursday. The US Treasury sold $35 Billion of 2 year notes today and is the first of three auctions this week totaling $99 Billion.

This week also has a wide gamut of economic data and headline grabbing releases ranging from consumers, manufacturing and real estate. Although the stock market had a slight rebound this morning, stocks will continue to suffer so long as there is a black cloud over the economy.

In international economic news, Greek lawmakers began a three-day meeting today in an attempt to pass spending cuts ($111B) to meet demands from the IMF and EU for a bailout deal. As the week moves on trading will thin out going into a long holiday weekend. The bond market will definitely take its direction from how equity markets perform this week.

The economic calendar this week has the following key economic and financial reports:

Key Economic Reports for Week of June 27th by James Barath

This is What’s News for Mortgage Rates This Week: June 27th.

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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