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The Week Ahead for Mortgage Rates: August 29, 2011

August 29, 2011 by · Leave a Comment 

Scorpions Rock You Like a Hurricane by James BarathHurricane Irene was definitley high on the list of weekend conversation. Not just the anticipation of which East Coast areas that it would consume, but also how much devastation it would leave in its path.

Although the aftermath of Hurricane Irene has been the headline nationally, the weather for Northwest Indiana and the greater Chicagoland area was fantastic this past weekend.

Just like the buzz about Hurricane Irene, both mortgage bonds and the financial markets have been on heightened alert as of recent.

This week should be no different as the calm before the storm will lead up to Friday’s August Employment Report. This does not mean that there are no key economic reports for the remainder of the week; however, all the other reports will just keep everyone in suspense until Friday.

Global stock markets have seen improvement today on the heels of Ben Bernanke’s view of the US recovery. If the economic reports support Bernanke’s stance on the world’s largest economy improving then expect mortgage rates to increase. Just remember the Quick Rule of Thumb listed below.

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

Key Economic Reports for Week of August 29th by James Barath

This is The Week Ahead for Mortgage Rates: August 29, 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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