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The Week Ahead for Mortgage Rates: September 6, 2011

September 6, 2011 by · Leave a Comment 

MDA Labor Day Telethon 2011There is no other tradition that signifies Labor Day weekend than the MDA Labor Day Telethon. For the first time since it’s inception in 1966, Jerry Lewis was not apart of the telethon and the show was trimmed from it’s standard 21-1/2 hours down to 6 hours.

Some would argue that the MDA Labor Day Telethon wouldn’t be the same without the long time tv personality and more importantly wouldn’t have enough air time to raise money. Even without Jerry Lewis and the extended hours, the Muscular Dystrophy Association raised $61.5 million over the weekend.

What does the telethon have to do with mortgage rates you ask?

The outcome of the telethon is a great example of how the underlying fundamentals of good will and a great cause always prevail even under the duress of the financial woes of today’s economy. Likewise, mortgage rates are still at historic lows and the affordability of homeownership makes more sense now even in a down economy.

With a shortened week on Wall Street due to Labor Day, much of the attention will be given to foreign equity markets and the forthcoming speech by President Obama to a joint session of Congress about jobs. All ears domestically and internationally will be listening to hear what the big plan is to create jobs right now. Just as with the telethon this past weekend, keep your fingers crossed and HOPE the outcome exceeds everyones expectations.

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

Key Economic Reports for Week of September 5th by James Barath

This is The Week Ahead for Mortgage Rates: September 6, 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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