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The Week Ahead for Mortgage Rates: August 1, 2011

August 1, 2011 by · 2 Comments 

The Final Countdown SingleLeave it to top lawmakers on Capitol Hill to wait for the final countdown to come together on an agreement so as to prevent a catastrophic US debt default. If you missed President Obama’s news breaking speech last night, it sounds like music to the ears of Social Security and government payment recipients.

What is not clear yet is will the debt deal actually be acceptable to all parties in the House and the Senate. Even with the passage of the debt deal, it still appears that there will be a downgrade of the US credit rating on a global level.

Once the debt deal is passed there will be ongoing debate about it’s implementation and intended effectiveness. It was also clear last night that President Obama would like to get the debt ceiling negotiations behind us so that we can collectively focus on the growth of the ailing US economy.

The biggest and all important report to judge the economy will be released on Friday. Based on the low expectations of economists of only 75,000 new jobs there will be a tremendous amount of scrutiny of the unemployment rate.

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

Key Economic Reports for Week of August 1st by James Barath

This is The Week Ahead for Mortgage Rates: August 1, 2011.

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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Comments

2 Responses to “The Week Ahead for Mortgage Rates: August 1, 2011”
  1. The final countdown is also coming for the summer. Which also means that kids are going back to school and parents are going to be busy with their kids sports and won’t be thinking as much about listing their home and moving. Now is the time to do it. We can get clear shots with no snow and plenty of sun. There are plenty of people looking to purchase in the Valparaiso Indiana area and we could use the inventory!

  2. Couldn’t agree with you more Jason about the need for more housing inventory as there are plenty of qualified home buyers in Valparaiso Indiana and throughout Northwest Indiana.

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