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The Week Ahead for Mortgage Rates: August 15, 2011

August 15, 2011 by · Leave a Comment 

Carlos Zambrano Meltdown by James BarathAs a life-long Chicago Cubs fan, the ongoing saga referred to as Carlos Zambrano has come to a boiling point that just seems out of this world. Zambrano who once was anointed the franchise ace pitcher with a $91.5 million contract has recently become so unpredictable and volatile.

Similar to Carlos Zambrano, the US mortgage bond market has become unpredictably volatile in the past several weeks.

This week should continue to see a high degree of volatility as global investors attempt to decipher the ever changing economic outlook not only in the US but also around the world.

Even though last week did not have any high impacting economic reports, the high volatility drove many investors to park their money into the US bond market as a safe haven. Consequently, the mortgage bond market is technically in an overbought position and that could add even more volatility to mortgage rates this week. Mortgage rates may not hit the lows of early last week; however, they should remain relatively low.

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

Key Economic Reports for Week of August 15th by James Barath

This is The Week Ahead for Mortgage Rates: August 15, 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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